Introduction: Study skills and students’ satisfaction with their performance positively affect their academic achievement. The current research was carried out to investigate the correlation of study skills with academic achievement among the medical and pharmacy students in 2013. Methods: This descriptive-analytical study was conducted on 148 students of basic medical sciences and pharmacy through convenience sampling. Data were collected by a valid and reliable questionnaire, consisting of two sections: Demographic information and questions about daily study hours, study skills in six domains, and students’ satisfaction with study skills. Collected data sets were analyzed by SPSS-16 software. Results: In total, 10.9% of students were reported to have favorable study skills. The minimum score was found for preparation for examination domain. Also, a significantly positive correlation was observed between students’ study skills and their Grade Point Average (GPA) of previous term (P=0.001, r=0.269) and satisfaction with study skills (P=0.001, r=0.493). Conclusion: The findings indicated that students’ study skills need to be improved. Given the significant relationship between study skills and GPA, as an index of academic achievement, and satisfaction, it is necessary to promote the students’ study skills. These skills are suggested to be reinforced, with more emphasis on weaker domains.