Only recently have researchers begun to examine individual differences in affective forecasting. The present investigation was designed to make a theoretical contribution to this emerging literature by examining the role of emotional intelligence in affective forecasting. Emotional intelligence was hypothesized to be associated with affective forecasting accuracy, memory for emotional reactions, and subsequent improvement on an affective forecasting task involving emotionally evocative pictures. Results from two studies (N = 511) supported our hypotheses. Emotional intelligence was associated with accuracy in predicting, encoding, and consolidating emotional reactions. Furthermore, emotional intelligence was associated with greater improvement on a second affective forecasting task, with the relationship explained by basic memory processes. Implications for future research on basic and applied decision making are discussed.