In Croatia, similar to other parts of the world, alcohol consumption among young people is becoming a standard way of entertainment. The aim of the study was to examine the relationships between impulsivity, emotional regulation, positive and negative metacognitions about alcohol use and alcohol consumption in students. The survey was conducted online and involved 453 participants; 383 female students and 70 male students, with an average age of 21 years. Most participants study at the University of Zagreb and the University of Rijeka, while other participants study at other universities in Croatia. According to the obtained results, almost half of the participants (42.2 %) consume alcohol 2 to 4 times a month, while according to the parameters of the World Health Organization, as many as 57.1 % of male students and 49.1 % of female students could be classified in the category of harmful alcohol consumption. It was found that impulsivity, emotional dysregulation, and positive and negative metacognitions about alcohol are significantly associated with alcohol consumption. When all variables were taken into account, including the age and gender of the respondents, a total of 51% of the variance in alcohol consumption was explained. At the same time, lack of premeditation, emotional dysregulation, positive metacognitions about emotional and social self-regulation and negative metacognitions about uncontrollability of consumption, are significant independent predictors of alcohol consumption. Emotional dysregulation shows a significant mediating effect on the association between lack of perseverance and alcohol consumption, while positive and negative metacognitions show a significant mediating effect on the association between emotional dysregulation and alcohol consumption. Thus, impulsivity, emotional dysregulation and positive and negative metacognitions about alcohol use play a significant role in the context of student alcohol consumption. Learning adequate skills and strategies for emotional regulation, as well as correcting misconceptions about the outcomes of consumption, could be an effective way to improve prevention programs and reduce alcohol consumption among young people.