Introduction: Mental health of students is affected by different factors. The present study aimed to determine the relationship between psychological capital, hope for employment and academic burnout with mental health among students of Islamic Azad university-Azadshahr branch in the academic year 2013-2014 by path analysis.

Methods: The present study was descriptive-correlation research. Using stratified sampling method, a sample of 226 students of Islamic Azad University of Azadshahr in Golestan was asked to respond to demographic questionnaire, "Maslach Burnout Inventory-Student Survey", the "Psychological Capital Questionnaire" the "Hope Work Scale" and the "General health Questionnaire, GHQ-28). Since, validity and reliability of measures of collecting data were measured by previous studies. The data were analyzed by SPSS/21 and AMOS- 21.

Results: Academic burnout negatively impact and psychological capital and hope for employment positively influence and can predict 15% of mental health variance. Academic burnout plays a mediating role in the relationship between psychological capital and hope for employment in students’ mental health.

Conclusions: A significant relationship between academic burnout and psychological capital, hope for employment with mental health of students. Therefore, organize workshops to promote psychological capital and hope in students is recommended.