The purpose of this study was to examine the impact of academic self-efficacy (ASEC), positive academic emotions (PAE), academic rewards (ACR), and metacognitive learning strategies (METLSS) on the academic performance (ACP) of educational institutions in Iraq. The study also examines the influence mediated by metacognitive methods. The survey instrument was self-administered, and data was obtained from university students. The quantitative research analysis was completed using the Partial Least Square-Equation Modelling Technique. Results suggested that ASEC, ACR, emotions connected to learning, and METLSS had a good and significant impact on the ACP of educational institutions. The indirect implications also show that metacognitive learnings favorably and significantly mediate the relationships between ASEC, ACR, PAE, and ACP. These findings, with the broader framework of academic rewards and the mediating influence of metacognitive learning, could significantly contribute to the existing literature as a pioneering study. The conclusions of this study may be valuable to policymakers, and universities' regulatory agencies should be aware of the importance of researching the indicators mentioned above, which could improve the ACP of students.