This study examined the effects of self-regulated learning (SRL) and epistemological beliefs (EB) on individual learner levels of academic achievement in Web-based learning environments while holding constant the effect of computer self-efficacy, reason for taking an online course, prior college academic achievement, and parental level of education. The study constituents included 201 undergraduate students enrolled in a variety of asynchronous Web-based courses at a university in the southeastern United States. Data was collected via a Web-based questionnaire and subjected to the following analyses: separate exploratory factor analyses of the self-regulated learning and the epistemological beliefs question items, correlations between the independent variables and the dependent variable, and linear regression of final course grades with all the variables in the model. Analysis of the data revealed that three independent variables (prior academic achievement (GPA), expectancy for learning, and an interaction term based on the cross product of these two variables were significant predictors in the model of learning achievement in asynchronous online courses. Discussion of the study's predictive model follows.