The primary objective of this study was to investigate the determinants of learning flow and achievement in corporate online training. Self-efficacy, intrinsic value, and test anxiety were selected as learners' motivational factors, while perceived usefulness and ease of use were also selected as learning environmental factors. Learning flow was considered as a mediator of predictors and achievement. Regarding methodological approach, structural equation modeling was employed in order to provide cause-and-effect inferences. The study participants were 248 learners who completed an e-learning courseware at a large Korean company and responded to online surveys. The findings suggested that self-efficacy, intrinsic value, and perceived usefulness and ease of use affected learning flow, while intrinsic value, test anxiety, and perceived usefulness and ease of use were significant predictors of achievement. The results revealed perceived usefulness and ease of use to be the most influential factor for both learning flow and achievement. (Contains 6 tables and 4 figures.)