Happiness has been acknowledged as a key determinant of students’ academic performance. This conceptual research identifies the relationships between students’ personal characteristics, such as academic self-efficacy and academic buoyancy, and their impact on the academic achievements of students. We argue that happiness positively moderates the relationship between academic self-efficacy and academic achievement, whereas academic buoyancy mediates this relationship. The findings of the study offer valuable insights for governments, educational institutions, and society, as they increasingly recognize the significance of well-being and happiness in supporting the transition of students through their academic journey.