Learning environment has always been traditionally associated with the physical presence of classrooms, textbooks, pen-and-paper examinations and teachers. However, today's evolving technology has rapidly changed the face of education. Online learning, teleconferencing, internet, Computer Assisted Learning (CAL), Web-Based Distance Learning (WBDL) and other technologies are integrated in education. This blended learning environment has become the major role in training and education scene. This paper focuses on a set of quantitative data pertaining to the perception of blended learning, attitude towards technology, effectiveness and efficiency of blended learning by using path analysis. Data were drawn from a group of business students who were engaged in blended learning environment. This study intends to find out the effectiveness and efficiency of blended learning in Malaysia tertiary institutions. The empirical results confirm that blended learning does enhance student's learning experience and learning outcomes.