Think-aloud and self-report data from 99 undergraduates were used to consider whether extensive use of self-regulated learning (SRL) with hypermedia results in diminishing benefits. Participants individually used a commercially-based hypermedia environment for 30 minutes to learn about a challenging science-related topic. Think-aloud data were collected during the 30-minute learning task to determine the extent to which participants used SRL processes related to planning, monitoring, and strategy use. Additionally, participants completed a pretest and posttest to measure learning outcomes. Results indicate that participants who used an intermediate or high frequency of SRL processes related to planning, monitoring, and strategies were significantly more likely to have a higher posttest score than participants who used a low frequency of these SRL processes. However, results also indicate that there was no significant difference in terms of learning outcomes among those participants who used an intermediate or high frequency of these SRL processes. These results suggest that there may be a threshold for the effectiveness of SRL processes during learning with hypermedia. (Contains 3 tables.)