This study examines the effect of self-regulated learning strategies on students' multicultural competency development. Quantitative and qualitative data were collected from 26 students who took a semester-long multicultural counseling course. Results show statistically significant improvement in students' multicultural awareness and knowledge and statistical insignificance in multicultural skill development compared to their level of competence before the training. Implications of using this approach to teach multicultural counseling courses and future research are discussed.