The present study aimed to examine the mediating effects of internalized shame and anger-in on the relationship between socially prescribed perfectionism and depression in university students. To do so, we used the Multidimensional Perfectionism Scale, Internalized Shame Scale, Korean version of the State-Trait Anger Expression Scale, and Korean version of the Depression Scale on 238 students from four-year university across the country, and conducted descriptive statistics, correlations, mediating effects, and significance tests using SPSS 21.0 and PROCESS Macro 4.1. The main findings of this study are as follows. First, the direct effect of socially prescribed perfectionism on depression, after excluding the indirect effects of internalized shame and anger-in, was not significant. Second, the mediating effect of internalized shame on the relationship between socially prescribed perfectionism and depression was significant. Third, the mediating effect of anger-in on the relationship between socially prescribed perfectionism and depression was significant. Fourth, the sequential mediation effects of internalized shame and anger-in were significant in the relationship between socially prescribed perfectionism and depression. Based on these results, this study discusses the need for interventions on socially prescribed perfectionism, internalized shame, and anger-in as a way to reduce depression in university students, as well as the significance and limitations of this study.