<p>Based on social cognitive theory, this study explores the key factors influencing academic competence among Chinese college students from the perspective of critical thinking. A moderated mediation model is hypothesized and tested to examine the roles of academic engagement (as a mediator) and academic self-efficacy (as a moderator) in such relationships. Data were collected through a three-wave longitudinal design involving 363 Chinese college students. The empirical test results first show that Chinese college students’ critical thinking has a significant positive impact on their academic engagement and competence. Secondly, their academic engagement not only has a positive impact on their academic competence, but also plays a mediating role in the process in which critical thinking affects academic competence. Thirdly, academic self-efficacy can positively moderate the relationship between critical thinking and academic engagement, thereby affecting their academic competence. More specifically, Chinese college students with higher academic self-efficacy have a stronger correlation between critical thinking and academic engagement, and ultimately achieve better academic results than students with lower academic self-efficacy. Therefore, these findings not only contribute to our theoretical understanding of cognitive processes, academic engagement, and competence development in higher education, but also provide practical suggestions for improving academic competence from the perspectives of educational administrations, faculty, and college students themselves.</p>