The incidence of major depression increases markedly during adolescence and early adulthood. There is therefore an increased need for effective emotion regulation (ER) capacities during this period. The present study explored the relative benefits of dispositional mindfulness compared to other commonly researched ER strategies, cognitive reappraisal, and expressive suppression, in a sample of youth with major depression presenting to a clinical service. Results demonstrated that mindfulness is distinct from these other ER strategies and is associated with lower cross-sectional levels of depression, anxiety, rumination and dysfunctional attitudes, and improved quality of life. Greater dispositional mindfulness also predicted greater recovery from these symptoms. It was concluded that a greater tendency to use mindfulness as an ER strategy is associated with positive mental health outcomes and better quality of life.