This review integrates 12 years of research on the relationship between academic self-efficacy and university student's academic performance, and known cognitive and motivational variables that explain this relationship. Previous reviews report moderate correlations between these variables, but few discuss mediating and moderating factors that impact this relationship. Systematic searches were conducted in April 2015 of psychological, educational, and relevant online databases for studies investigating academic self-efficacy and performance in university populations published between September 2003 and April 2015. Fifty-nine papers were eligible. Academic self-efficacy moderately correlated with academic performance. Several mediating and moderating factors were identified, including effort regulation, deep processing strategies and goal orientations. Given the paucity of longitudinal studies identified in this review, further research into how these variables relate over time is necessary in order to establish causality and uncover the complex interaction between academic self-efficacy, performance, and motivational and cognitive variables that impact it. •Academic self-efficacy moderately correlated with academic performance.•Mediating and moderating factors were identified (effort regulation, deep processing strategies and goal orientations).•Causality between academic self-efficacy and performance remains to be established.•Future research should focus on longitudinal intervention-based studies.