Previous studies have shown that dispositional mindfulness is positively associated with cognitive performance, including the ability to stop behavioral actions (formally called inhibitory control). However, some studies suggest that the relationship may be context dependent. The current study addressed previous limitations and focused on the role of reward context regarding the relationship between mindfulness and inhibitory control. Seventy-five participants (31 men, 44 women) between 18–50 years old (M = 30, SD = 9) were included in the final sample. Participants filled out a self-report measure of mindfulness and performed a stop signal task with three conditions that varied in terms of reward context. In the neutral condition, go stimuli (stimuli to which a response was required) were letters; in the food and money condition, these were pictures of food and money, respectively. Results showed that inhibitory control was reduced in the money condition relative to the neutral condition (p = 0.012). Mindfulness was positively correlated with inhibitory control, but only in the money condition (p = 0.001). However, results might differ when inhibitory control is required while perceiving a learned reward-related stimulus. The latter represents an open question for future research.