The purpose of this study is to investigate the effect of balanced time perspective on undergraduate student’s flourishing, and see the mediating effect of social connectedness. For this purpose, we conducted online and offline surveys of 205 undergraduate students at universities across the nation in Korea and the results were analyzed using SPSS 23.0. First, through one-way ANOVA, future-positive time perspective group or balanced time perspective group’s flourishing were higher than group with past-positive time perspective or restrictive time perspective. For social connectedness, balanced time perspective group and other three groups showed different result. Thus, balanced time perspective group showed higher social connectedness. Second, positive predictors of undergraduate students’ flourishing are school life satisfaction, academic achievement satisfaction, balanced time perspective and social connectedness. Lastly, social connectedness partly mediate the relationship between balanced time perspective and flourishing. Thus, it shows that undergraduate students’ balanced time perspective has direct influence on flourishing as well as indirect influence through social connectedness.