Stress resulting from the broader life context (life stress) is involved in the development and progress of many diseases, as well as in the adjustment to chronic illness. It may also be associated with the specific ways patients perceive and respond to illness. In this respect, the purpose of this study was to examine the possible relationships between life stress, and illness‐related perceptions and coping. A cross‐sectional design was employed. Participants completed measures regarding life stress, illness perceptions, illness‐related coping and restrictions imposed by the illness. One hundred and one chronically ill outpatients participated in the study. Their mean age was 51.10 years (SD = 12.88), and the mean time elapsed since initial diagnosis was 12.74 years (SD = 9.32). According to the results, life stress was associated with certain illness perceptions (i.e. personal control over illness, illness consequences) and illness‐related coping strategies (i.e. palliative coping, emotional reactions), even after controlling for sociodemographic variables and illness‐associated factors. Moreover, illness consequences mediated the effects of life stress on the two coping strategies. These results underline the significance of the broader life context regarding the experience of chronic illness. Copyright � 2009 John Wiley & Sons, Ltd.