Academic self-handicapping is a very popular subject of research in educational psychology, in which a growing number of related findings are reported. However, apart from a recent meta-analysis (Schwinger et al. in J Educ Psychol 106(3):744-761, 2014), the last comprehensive review of the subject was published 17 years ago (Urdan and Midgley in Educ Psychol Rev 13(2):115-138, 2001). This paper integrates relevant findings accumulated since then, which are discussed in a coherent interpretive framework. The first part of the paper discusses the definition and theoretical grounds of academic self-handicapping, then its manifestations in an academic context are enumerated. The second part of the study focuses on the self-protective function of stereotypes based on self-handicapping as well as on the impressions self-handicapping students may make on others at school. A summary of the contributions of goal orientation theory is provided in relation to self-handicapping, and the effects of various goal orientations and goal structures on academic performance are analysed. Based on an analysis of interactions between self-handicapping and academic performance, the authors argue for the importance of prevention and suggest possible ways to prevent self-handicapping. In conclusion, measurement issues of academic self-handicapping and the methodological paradox inherent in questionnaire measures are discussed.