This research was a qualitative phenomenological study and its purposes were to (1) understand the meaning of self-regulated learning and excellence from the perspectives of students, administrators, teachers, and parents of students who have achieved learning success; (2) study the self-regulated learning process of successful students through the experiences shared by students, administrators, teachers, and parents; and (3) identify the success conditions of self-regulation in students who have achieved learning success, as obtained from students, administrators, teachers, and parents. The research instruments consisted of causal factor interview protocol and observational forms, and the data was analyzed by using content analysis. The research findings indicated that (1) self-regulated learning is a process of self-control that involves taking responsibility for learning tasks, having the motivation to seek knowledge using various skills, self-assessment, management, and having the necessary reinforcements to achieve one's goals. This leads to excellence, a unique quality that surpasses others, and it stems from individual dedication to personal development and setting challenging standards for oneself; (2) The processes or strategies to promote self-regulation in learning and lead to excellence consist of three components: cognition, metacognition, and motivation; and (3) The conditions or factors that promote self-regulated learning and contribute to student success include personal factors, behavioral factors, and environmental factors. These three factors directly affect the learners and enable them to self-regulate their learning and develop themselves towards excellence. The findings of this study can serve as a basis for further development of self-regulated learning to guide students towards excellence.