The purposes of this study were to investigate the differences of future time perspective, perceived instrumentality, and self-regulated learning of college students across different demographic variables, and the correlation among each other. Furthemore, the present study examinated the mode rating effect of perceived instrumentality. Study samples were collected from 1,314 college students in Taiwan. All the participants completed the Future Time Perspective Scale, Perceived Instrumentality Scale, and Self-Regulated Learning Questionnaire. Through descriptive statistics, MANOVA, Pearson correlation analysis, canonical correlational analysis, and multiple regression analysis, the main findings of the study are as follows: (1) There was a significant canonical correlation between perceived instrumentality and self-regulated learning. (2) Future time perspective was significantly and positive correlated with self-regulated learning and perceived instrumentality. (3) both endogenous instrumentality and exogenous instrumentality partially mediate the relationship between future time perspective and self-regulated learning. (4) Future time perspective of college students varied significantly across their grade level, birth order, and social economic status. The perceived instrumentality of college students varied significantly across grade level, birth order, and social economic status.