The purposes of this study were to examine a measurement model of forgiveness and potential association between forgiveness and anxiety. Using cross-sectional data from 280 adult college students, the authors analyzed factor structure of forgiveness by confirmatory factor analysis. Results showed that forgiveness includes forgiveness of others and seeking for forgiveness. Structural analysis revealed significant relationship among age, religious belief, forgiveness, and psychological well-being. A sample of 197 adult college students completed self-report measures of forgiveness, and anxiety at two separate occasion, with a 7-week interval between administrations. Structural equation modeling was employed to test the cross-lagged panel models of the reciprocal effects of forgiveness on anxiety. Result demonstrated that forgiveness has a statistically significant negative effect on later anxiety, but anxiety has no significant effect on forgiveness. Based on those results, implication for future research was discussed.