Mental time travel (MTT) is the ability to project oneself to the past or future through mental simulation. Moreover, MTT can involve self-related or other-related information. This study aimed to compare MTT in individuals with high levels of schizotypy and that in their counterparts with low levels of schizotypy. Participants with high (n = 37) and low (n = 37) levels of schizotypy completed an MTT task with four conditions [2 (Condition: self vs. other) x 2 (Time orientation: past vs. future)]. They were required to recall past events that had happened to themselves or to a non-intimate person, and to imagine possible future events that might happen to themselves or to a non-intimate person, related to cue words. Outcome measures included specificity, vividness, sense of experience, emotional valence, emotional intensity, proportion of first-person visual perspective in events, and difficulty in event generation. A 2 (Group: high vs. low levels of schizotypy) x 2 (Condition) x 2 (Time orientation) mixed analysis of variance was conducted on each index. Results showed that self-related MTT was more specific than other-related MTT in low levels of schizotypy participants but not in high levels of schizotypy participants. Participants with a high level of schizotypy reported fewer specific events, and reported events with lower vividness and positive emotion than did those with a low level of schizotypy. Self-related MTT showed higher levels of phenomenological characteristics than did other-related MTT. In conclusion, individuals with a high level of schizotypy have altered MTT, and cannot benefit from the self-advantage effect on the specificity of MTT.