This study examined socially shared regulation of learning (SSRL) and motivation processes in a collaborative learning task that required creativity using the ICT tool of mind mapping. Thirty university students formed three groups, collaborating face-to-face to generate creative ideas. The following results were obtained from qualitative and quantitative data using psychological scales and utterance analysis. In the middle phase of the collaborative activity, there was a significant weak-to-moderate positive correlation between socially shared regulation of cognition, self-regulation, co-regulation, and socially shared regulation of intrinsic motivation and a deep level of regulation utterances. Moreover, there were significant weak-to-moderate correlations between behavioral and cognitive engagement, SSRL of monitoring and cognition, and the three modes of motivational regulation. Creative performance was significantly and moderately positively associated with socially shared regulation of cognition and total frequency of utterances in the group. Based on these findings, the implications for practice in university education are discussed from the perspective of socially shared regulation in collaborative learning.