The purpose of the current study was to present a model for explaining mental health of university students based on the variables of goal orientation, hope, and spiritual well-being. The current study was a descriptive-correlation research. Research samples were 374 people (150 women and 224 men) with the age range of 18 to 50 years old (mean of 24.67 and standard deviation of 6.72). They were selected from among students of Islamic Azad University, Hamedan Branch, using multistage sampling method and filled out the questionnaires related to goal orientation, hope, spiritual well-being, and mental health. Data were analyzed by SPSS-16 and LISREL 8.5 software programs. The results showed a significant correlation between goal orientation and hope, goal orientation and spiritual well-being, hope and spiritual well-being, hope and mental health, and also spiritual well-being and mental health. Result of path analysis showed that the designed model for explaining mental health fitted the data (AGFI=0.98, RMSE=0.00, NFI=0.98). In the fitted model, goal orientation directly affected hope and well-being, hope directly affected spiritual well-being and indirectly influenced mental health, and finally well-being directly affected mental health. Purpose driven students have a higher level of hope and students with a higher level of hope enjoy a higher degree of spiritual well-being and consequently better mental health. According to the presented model, a learning package can be prepared for improving students’ mental health.