Objective: Traditional views of exercise motivation emphasize the long-term health benefits of exercise. We investigated whether mindfulness, present-moment awareness, is associated with greater exercise motivation and exercise self-efficacy in college students. Exercise self-efficacy reflects how confident individuals are that they can persist in exercising despite obstacles. Participants: Undergraduate students (N = 188) were recruited from the psychology participant pool in Fall 2017. Methods: Participants completed an online survey assessing trait mindfulness, exercise motivation, exercise self-efficacy, and demographic information. Results: Hierarchical regression analyses revealed positive associations between intrinsic and extrinsic exercise motivation and exercise self-efficacy, mindfulness and intrinsic exercise motivation, and mindfulness and exercise self-efficacy. The latter relationship was partially mediated by intrinsic exercise motivation. Extrinsic exercise motivation was not associated with mindfulness. Conclusions: Both mindfulness and intrinsic exercise motivation independently predict exercise self-efficacy, suggesting that mindfulness may uniquely contribute to positive health behaviors in college students.