Effectively regulating negative emotions is important for successful self-regulated learning. However, research has hardly examined which emotion regulation strategies benefit self-regulated learning. In an experimental study, it was examined whether positive reappraisal facilitates self-regulated learning by counterbalancing the depletion of self-control resources. Sixty-one university students engaged in either positive reappraisal or expressive suppression to regulate negative emotions induced by a film clip and then worked on a self-regulated learning task. Participants who engaged in positive reappraisal experienced more positive emotions after the film and had more self-control resources available than participants who used expressive suppression. Moreover, positive reappraisal increased skin conductance during emotion regulation, as compared to expressive suppression. Irrespective of emotion regulation type, positive emotions predicted post-film availability of self-control resources which was positively associated with subsequent self-regulated learning. The results demonstrate beneficial affective and resource-related consequences of positive reappraisal as well as its potential for fostering self-regulated learning.