Can high-activated positive emotions lead to procrastination? Exploring this question, our research integrated the literature on mind wandering and self-regulation theory to construct and test a theoretical model of high-activated positive emotions increase workplace procrastination through mind wandering, and examine the moderating role of emotion regulation ability and intrinsic motivation. Results of an experience-sampling study involving 116 full-time employees show that high-activated positive emotions are significantly and positively correlated with mind wandering and further increase employees’ procrastination behavior. Emotion regulation ability and intrinsic motivation play moderating roles between high-activated positive emotions and mind wandering. That is, for employees with higher (lower) emotion regulation ability or when employees reported higher (lower) intrinsic motivation for their work tasks, high-activated positive emotion has a weaker (stronger) positive effect on mind wandering. Our research sheds light on the potential costs of positive emotion and helps us better understand workplace procrastination.