L2 motivation has been proved by a plethora of SLA studies to positively affect various domains of language learning, among which L2 vocabulary learning is relatively underexplored although it is acclaimed as an essential factor for successful L2 learning. Particularly in an acquisition-poor environment such as the EFL context in China, vocabulary learning motivation is of importance but it is also arduous to maintain. Thus, this study aims to explore the characteristics of L2 vocabulary learning motivation by Chinese EFL learners and to investigate how motivation influences their vocabulary learning strategies and receptive vocabulary knowledge. In addition, as very few studies have established the relationship between motivation factors, self-regulation, and learning strategies, the study also examines the possible correlations among these variables. To fulfil the research aims, the study employed a mixed-method approach. Participants were 47 EFL learners from a university in Beijing, China, who were in their senior year of college study and had reached an advanced level of English proficiency.During the data collection procedure, three main instruments were used for quantitative data collection, namely an adapted language learning motivation questionnaire based on the self-theory of motivation; a vocabulary learning strategies questionnaire, as well as the Vocabulary Level Test. For qualitative data collection, semi-structured interviews were conducted with 10 students focusing on self-regulation in vocabulary learning. Quantitative data were analysed using exploratory factor analysis, correlation and regression analysis; and thematic analysis was used to analyse qualitative data. The results show that the Chinese EFL learners were instrumentally motivated to learn L2 vocabulary in the final year of the undergraduate study, and two aspects of instrumentality (i.e. promotion and prevention) were confirmed in the data.Moreover, during the vocabulary learning, these participants were found to employ fewer metacognitive strategies; such results were triangulated with the qualitative findings that these participants were of a low level of self-regulation in learning English vocabulary.Overall, this study reveals the instrumental orientation of Chinese EFL learners in L2 vocabulary learning, which is related to their self-regulated strategies and receptive vocabulary knowledge. Pedagogical implications can be drawn from the results that more attention should be paid to the motivation of advanced EFL learners; even though they are graduating, they still need to learn English vocabulary for some instrumental reasons, and thus some guidance and instructions are necessary to be provided for students to facilitate the vocabulary learning.