What effects does mindfulness have on university students' academic performance? Our aim in this empirical study is to analyse the relationship between mindfulness and academic performance, and how it might be explained by the role of compassion and engagement. We hypothesise that mindfulness positively relates to academic performance, and that this relationship is mediated by compassion and engagement. The study sample comprises 210 university students from management degrees, who on graduation are likely to have careers as managers or leaders in organisations. Structural equation modelling reveals that compassion partially mediates the relationship between mindfulness and engagement and, consequently, increases academic performance.