Compulsive sexual behaviors (CSB) and alcohol use are prevalent among college students. Alcohol use frequently co-occurs with CSB; however, further examination of risk factors of co-occurring alcohol use and CSB is needed. We examined the moderating effect of alcohol-related sexual expectancies, specifically sexual drive and affect expectancies, on the association between alcohol use/problems and CSB among 308 college students from a large university in the southeastern United States. Alcohol use/problems and CSB had a positive significant relationship among college students high in sexual drive expectancies and high and average in sexual affect expectancies. These findings suggest that alcohol-related sexual expectancies may be a risk factor for alcohol-related CSB.