Objective: To examine unique contributions of depression, alcohol consumption, and alcohol-related consequences on functional health outcomes in college students. Methods: Participants were heavy-drinking undergraduate students (N = 207) who completed self-report questionnaires. Results: For men and women, depression predicted overall general health and mental health ratings. For women, depression predicted number of days of role limitations due to poor physical or mental health and number of days of not getting enough sleep or rest. Conclusions: Findings suggest that depression may have a more pervasive association with HRQOL than alcohol misuse or alcohol-related consequences in college students.