This paper first establishes a multivariate linear regression model, then explores the correlation between labor education and students’ psychological construction based on the model, and studies the effect of labor education in colleges and universities under the background of mental health science through the t-test of independence, and analyzes the variability of students’ labor consciousness in the case of different variables. Finally, the goal was to develop a program for labor education in colleges and universities. The results show that there is a significant positive correlation between the level of labor and the degree of construction of students’ psychological environment, with a correlation coefficient of 0.687, which reaches the significance level of 0.01. The correlation between labor practice and students’ centripetal cohesion and introspective experience is 0.54 and 0.582, respectively, and health psychology has a positive influence on labor education. This study is conducive to promoting the formation of college students’ labor consciousness and is of great significance in further developing China’s labor education theory.