Background/Study Context: The present studies investigate age differences observed when performing the emotional Stroop task considered as an expression of emotion regulation. Previous studies employing this task showed mixed findings regarding age differences, with a lack of evidence for positivity effects. However, moderating factors such as arousal or dispositional (emotion) regulation strategies were mostly not taken into account. Moreover, relations between Stroop effects and emotional reactions were not examined. Methods: In two studies (Study 1/2: n(young) = 26/41; n(old) = 19/39), an emotional Stroop task was employed and valence (negative, neutral, positive [Study 2 only]) and arousal of the word stimuli were varied. Additionally, flexible goal adjustment (FGA), positive and negative affect in the last 12 months, and change in momentary affect (Study 2 only) were measured. Results: Study 1 showed larger emotional Stroop effects (ESE) in older than younger adults with medium arousing negative words. We also found correlations between FGA (positive correlation) as well as negative affect (negative correlation) and the ESE with medium arousing negative words. Study 2 corroborates these findings by exhibiting positive change in momentary affect with larger ESEs for medium arousing negative words in the older age group. Conclusions: The findings emphasize the importance of including arousal level and dispositional regulation measures (such as FGA) as moderating factors in age differences and within-group differences in emotion regulation. Although we did not find evidence for a positivity effect, processing in the emotional Stroop task was related to positive change in momentary affect and less negative affect in the older age group. Taken together, our experiments demonstrate that the emotional Stroop task is suited as a measure for emotion induction and related emotion regulation mechanisms.