Objectives of this correlational research were threefold. Firstly, investigation of association between alexithymia and illness anxiety; secondly, to look at the role of negative affect in relationship of alexithymia and illness anxiety; and thirdly, to identify demographic predictors in the development of illness anxiety among university students. University students (N= 400; 50% girls; M-age= 21.48, SDage= 2.108) administered with Toronto Alexithymia Scale (Bagby, Parker, & Taylor, 1994), Whiteley Index (Pilowsky, 1967) and Positive & Negative Affect Schedule (Watson, Clark, & Tellegen, 1988) for the assessment of alexithymia, illness anxiety and negative affect respectively. Data were analyzed using ANOVA, correlation, multinomial logistic regression and mediation analysis. Results showed that alexithymia significantly positively correlates with illness anxiety and this relationship is mediated by negative affect. Two major categories of alexithymia i.e. Externally Oriented Thinking Style and Difficulty Identifying Feelings positively predicted illness anxiety. Results are discussed in cultural perspective.