Purpose: The purpose of this study was to investigate the level and factors influencing depression among nursing students. Methods: The data were collected from nursing students attending 3 universities who expressed a willingness to participate in the study through a questionnaire which surveyed them about depression, stress, social support, self-efficacy, self-esteem, and wellbeing in May, 2012. The collected data from 235 nursing students were analyzed using a SPSSWIN 19.0. Results: The mean score of depression (using MDI) among nursing students was 16.7, which denotes a minor depressive mood. 49.1% of variance with regard to depression among nursing students was explained by stress, self-esteem, wellbeing and self-efficacy. Conclusion: There is a need to develop a depression prevention program for nursing students and to reduce stress and increase self-esteem, wellbeing and self-efficacy in order to establish an effective program.