The main objective of this study was to determine the most suitable model for academic self-efficacy, which is impacted by various factors such as student engagement, academic motivation, and the social climate of state colleges and universities in Region XI. The study aimed to identify how these factors interrelate and influence academic self-efficacy, an essential aspect of a student’s academic performance and overall success in their academic pursuits. Even so, there is a limited amount of research on how these factors affect each other and how they affect academic self-efficacy right away. To get an answer to this research topic, this study used a method known as descriptive correlation, which is based on structural equation modeling (SEM). A total of 700 college students were selected using stratified proportionate sampling. The results showed that student engagement, academic motivation, school climate, and academic self-efficacy were very high. All latent exogenous factors were also shown to have a strong link with academic self-efficacy. Structural Model 3, which depicted the casual relationship between student engagement and school climate and college students’ academic self-efficacy, was the best-fitting and most parsimonious model. Future studies can investigate the most reliable predictors of academic self-efficacy for different groups and dimensions, including factors that were not significant in the current model.