Responding to the emotions of the people around us is a phenomenon traversing human lives; however, research has only recently started exploring the predictors of interpersonal emotion regulation (IER). In two ecological momentary assessment (EMA) studies, we tested whether different facets of empathy (i.e., mentalizing, experience sharing, empathic concern, and personal distress) are associated with other-focused IER goals and their attainment in everyday life (Ns = 131 and 204). Study 1 examined associations between mentalizing, experience sharing, and global hedonic and counter-hedonic IER goals (i.e., making others feel better or worse). Study 2 expanded these findings to empathic concern, personal distress, and associations with specific types of hedonic and counter-hedonic IER goals (i.e., increasing, decreasing, and/or maintaining others’ positive and/or negative emotions). In both studies, participants primarily endorsed hedonic IER goals. Hedonic IER goals were associated with higher mentalizing and experience sharing in both studies and higher empathic concern and lower personal distress in Study 2. Counter-hedonic IER goals were positively associated with experience sharing in both studies, and personal distress in Study 2. Conversely, empathic concern and mentalizing were negatively related to counter-hedonic IER goals in Study 2. We also found differential associations for empathy with IER goals on the state and trait levels. All empathy facets except personal distress were positively associated with goal attainment in Study 2. These findings address a major gap in our scientific knowledge about IER in everyday life and offer a novel perspective on empathy in social emotion regulation processes.