University students' passion for their studies has been previously demonstrated to be important for both their academic performance and their personal well-being. However, no studies to date have explored the role of passion for one's studies on both academic and personal outcomes in a single model. The present research sought to determine the role of passion in adult university students' self-regulated learning and psychological well-being (Study 1), as well as the process by which passion shapes these outcomes, namely academic emotions, in Study 2. It was hypothesised that harmonious passion would positively predict both self-regulated learning and psychological well-being in Study 1. Furthermore, the mediating role of academic emotions between passion and outcomes was tested using a prospective design over time in Study 2. Results provided support for the proposed model. Implications for future research and practice focusing on the role of passion in facilitating adaptive emotions, use of self-regulation and well-being in adult students are discussed.