The present article reports an investigation into the metacognitive reading processes of 168 Sri Lankan university students with respect to three reading proficiency levels: low, intermediate and high. With the use of a reading comprehension test, students were grouped into three proficiency levels and their metacognitive awareness of reading processes were assessed using the Mokhtari & Reichard's (2002) Metacognitive Awareness of Reading Strategies Inventory (MARSI). A positive linear relationship was found between Sri Lankan students' metacognitive awareness of reading strategies and their text comprehension. All Sri Lankan university students in all three proficiency levels reported using problem solving strategies most frequently followed by global and support strategies with higher use of strategies by higher level students.