The current study proposes a comprehensive structural model to determine whether online learning perceptions and online learning readiness affect students' online learning performance and course satisfaction. A questionnaire was voluntarily completed by 356 undergraduate students enrolled in a cross-campus, general education, asynchronous online course in Taiwan. The structural equation modeling analyses indicated that students' computer/Internet self-efficacy and motivation for learning exerted a direct, positive effect on their online discussion score and course satisfaction. Furthermore, it was found that students' computer/Internet self-efficacy for online learning readiness had a mediated effect not only on online learning perceptions and online discussion score but also on online learning perceptions and course satisfaction. The findings of this research are helpful for both academics and practitioners of online learning to design online courses that particularly emphasize computer/Internet self-efficacy.