Time management is very important in personal as well as in professional life of university teachers. Poor time management results in destructive psychological outcomes in personal and professional life of university teachers. Therefore the present study is based on the Process Model of Time Management by Macan (1994). The study aimed to examine the mediating role of perceived control of time between time management behaviour and psychological outcomes among university teachers. The study also examined the direct effect of time management behaviour and perceived control of time on the prediction of personal and job-related outcomes. Moreover role of time management behaviour in the prediction of perceived control of time was also investigated. The present study is based on cross-sectional survey research design. Sample of the present study comprised of university teachers (N = 300). Seven self-report measures were used for data collection including Time Management Behaviour Scale, Perceived Control of Time Scale, Warwick Edinberg Mental Well-being Scale, Depression Anxiety Stress Scale, Job Satisfaction Scale, In Role Performance Scale, and Role Overload Scale. Overall research was divided into two parts. Firstly, pilot study was carried out in order to examine the psychometric properties of the scales and exploration of the direction of relationship between variables. Pilot study was conducted on the limited sample of university teachers (N = 100). Pilot study participants were not included as main study participants. After pilot testing, main study was carried out. Sample of the main study comprised of university teachers from different public and private sector universities of Pakistan (N = 300). Both male and female university teachers were included in the sample. Age ranged from 28 to 38 years (M = 35.42, SD = 10.79) participated in this research. Only regular university teachers with at least on year full time teaching experience were included in the sample. However, the experience of teachers fluctuated between 1 to 37 years (M = 5.87, SD = 4.60). The qualification level of university teachers was MA / MSc (n = 64, 21.3%), MPhil / MS (n = 133, 44.3%) and PhD (n = 103, 34.3%). Linear regression analysis and hierarchical regression was computed to test the hypotheses. Most of the hypotheses were supported in the present study. Results of the linear regression analysis reveal that time management behaviour positively predicted well-being whereas negatively predicted stress among university teachers. Time management behaviour positively predicted job satisfaction and job performance whereas negatively predicted role overload among university teachers. Time management behaviour positively predicted perceived control of time. Perceived control of time positively predicted well-being whereas negatively predicted stress among university teachers. Perceived control of time positively predicted job satisfaction and job performance whereas negatively predicted role overload. Results of the hierarchical regression analysis revealed that perceived control of time mediated between time management behaviour and well-being among university teachers. Perceived control of time mediated between time management behaviour and stress among university teachers. Perceived control of time mediated between time management behaviour and job satisfaction among university teachers. Similarly, perceived control of time mediated between time management behaviour and job performance among university teachers. The findings confirmed the underlying empirical assumptions of the Process Model of Time Management Overall the findings are valuable in the fields of educational and organizational psychology. The recommendations of the study were discussed under the limitations and suggestions.