The purpose of this study is to examine the mediating effect of positive psychological capital as an protective factor and mental health as an risk factor on the relationship between smart phone addiction and self life management of university students. The following are the results of the analysis on the measures of smart-phone addiction, positive psychological capital, mental health and self life management among the 266 college students. First, the analysis of the correlation between relevant factors, smart-phone addiction showed a significant amulet correlation between self life management and positive psychological capital and a significant static correlation between mental health. Second, the positive psychological capital showed a mediate effect as a result of the analysis of university students' smart-phone addiction and self life management. Third, the results of a regression analysis between positive psychological capital and psychosomatic health sub-factors, optimism and resilience in the positive psychological capital and Depression and Impulsion in mental health, had a significant impact on managing self-life management Based on the results of this study, we discussed educational implications for the management of university students ' lives and suggestions for further research.