This study examines the relationships between self-efficacy, task value, and the use of self-regulated learning strategies by massive open online course (MOOC) learners from a social cognitive perspective. A total of 184 participants who enrolled in two MOOCs completed surveys. The results of Pearson's correlation analysis show a positive correlation between self-efficacy and the use of self-regulated learning strategies, as well as a positive correlation between task value and the use of self-regulated learning strategies. The results of hierarchical multiple regression analysis show that self-efficacy and task value are significant predictors of the use of self-regulated learning strategies. There was a statistically significant difference in the use of self-regulated learning strategies between learners who possessed high self-efficacy and those who possessed low self-efficacy.In addition, learners who had high task value showed statistically significant higher average self-regulated learning scores than those who had low task value. Implications and future research directions are discussed based on the findings.