Although previous work has shown that emotion regulation strategies can influence memory, the mechanisms through which different strategies produce different memory outcomes are not well understood. We examined how two cognitive reappraisal strategies with similar elaboration demands but diverging effects on visual attention and emotional arousal influenced explicit memory for emotional stimuli and for the strategies used to evaluate the stimuli. At encoding, participants used reappraisal to increase and decrease the personal relevance of neutral and emotional pictures. In two experiments, recall accuracy was highest for emotional pictures featured on increase trials, intermediate for emotional pictures featured on look (respond naturally) trials, and lowest for emotional pictures featured on decrease trials. This recall pattern emerged after a short delay (15 min) and persisted over a longer delay (48 hr). Memory accuracy for the strategies used to evaluate the pictures showed a different pattern: Strategy memory was better for emotional pictures featured on decrease and increase trials than for pictures featured on look trials. Our findings show that the effects of emotion regulation on memory depend both on the particular strategy engaged and the particular aspect of memory being tested.