Perceived stress is proved to have great influence on both physiological and mental health. Despite that most studies of stress are focused on the pressure caused by great life event, more and more researchers are paying increasing attention to the stress caused by daily hassles. A lot of researches have been conducted to explore the relationship between daily hassles with psychological health (such as negative emotion) and healthy behavior (such as smoking and vegetable taking). In the study, the other important concept is the meaning in life. It is emerging as an important topic in positive psychology. Plenty of studies have demonstrated that meaning in life is of great importance to individuals’ life development and is very essential to mental health. So the present longitudinal study aimed to explore whether daily hassles can be applied to the model of stress perception and test the moderating role of meaning in life in the relation of stress perception on psychological adjustment. In the present study, the self-reported data were collected from 153 freshmen. To avoid the common method variance, two waves of survey were administrated, using time lagged design with two months in between. In the first wave, participants were asked to provide ratings of Inventory of College Students' Recent Life Experiences, perceived stress scale, questionnaire of meaning in life and some demographic information. In the second wave, psychological adjustment was assessed. After the investigation, the data collected in two waves were matched, input into computer and analyzed by software of SPSS 16. 0 and M-Plus 7. The results showed that daily hassles were positively correlated with perceived stress and were negatively correlated with psychological adjustment. Besides, both perceived stress and meaning in life were positively correlated with psychological adjustment. Structural Equation Modeling (SEM) was employed to analyze the data. The results showed that perceived stress played a fully mediating role between daily hassles and psychological adjustment. Questionnaire of meaning in life contains two subscales: presence of meaning and search for meaning. SEM showed that presence of meaning moderated the relationship between stress perception and psychological adjustment. That is to say, when freshmen are faced with daily hassles, those who possess higher level of meaning would adjust to college life better than those who possess lower level of meaning. However, the moderating role of search for meaning was not significant. The present study not only examined the relationships among daily hassles, perceived stress and psychological adjustment which expanded the related areas and enriched the original theory, but also found that presence of meaning played an important role on psychological adjustment among freshmen, which is a hot area of occupational health psychology. Daily hassles are the negative phenomenon that cannot be ignored. This study provides an effective intervention to improve the freshmen psychological adaptation. Future research can use three-wave-data to further explore the causal relationship among daily hassles, perceived stress, meaning in life and psychological adjustment. Besides, in order to generalize these results to other populations, more studies among different samples are required.