Objective: To investigate the relationship between positive life events, negative life events and depression in college students. Methods: A total of 2626 freshmen and seniors in a university in Wuhan, Hubei province were investigated by using the college life events questionnaire and the depression scale. 2445 questionnaires were collected, with an effective recovery rate of 93.11%. Results: Positive life events and negative life events had significant positive correlation with depression. After controlling for demographic variables, positive life events could not predict depression, negative life events could positively predict depression, and negative life events had a moderating effect on the relationship between positive life events and depression of college students. Conclusion: Negative life events can predict depression, have more direct influence on depression than positive life events, and can regulate the influence of positive life events on depression.