Numerous emerging adults are inclined to go to college, but the different life and learning environment of college can be a challenge, particularly those with autistic traits such as poor social skills, poor communication skills, and so on. Few studies have explored the mechanism underlying the association between autistic traits and school adjustment in college students. This study sheds light on this topic. A sample of 1,381 Chinese college students completed surveys about autistic traits, school adjustment, emotion regulation, and friendships. The results showed that there were significant correlations between autistic traits, emotion regulation, friendships, and school adjustment. Emotion regulation and friendships were found to play a chain-mediating role in the association between autistic traits and school adjustment. The results indicate that to help college students to better adapt to school life, it is critical to pay attention to their autistic traits, emotion regulation ability, and friendships.