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The current study validated the proposed structure of relationships among outcome‐related achievement emotions (pride and anxiety), their cognitive predictors (appraisals und online‐learning‐related self‐efficacy), and learning outcomes (competence gain and satisfaction) in the context of online learning in higher education. On the basis of a sample of 220 university students, we applied structural equation modeling. We found that high self‐efficacy was related to greater perceived control, which was positively associated with interest in online learning. Self‐efficacy showed positive relations with pride and negative relations with anxiety. Interest was positively associated with pride, competence gain, and satisfaction. Both outcomes also showed direct positive relations with pride, whereas anxiety was negatively associated with satisfaction only. Furthermore, three substantial indirect effects of self‐efficacy on the two outcomes were revealed. The findings supported the role of anxiety and pride as mediators between cognitions and learning outcomes although also direct relationships between interest and learning outcomes were observed. Lay Description: What is currently known about the subject matter? achievement emotions are mediators between learner's appraisals and learning outcomeshowever, little research on emotions as antecedents of achievement in academic online learningfew studies differentiated effects of dispositional and contextual appraisalsregarding emotions, pride as affective antagonist of anxiety remains underresearched What does the paper add to the topic? The manuscript examines antecedents and outcomes of pride and anxiety as antagonistic emotionsdifferentiates the interplay among three kinds of appraisals on emotionsinvestigates differential effects of emotions on affective and competence‐based outcomesexamines direct and indirect associations between the study variables using latent modeling Implications for practitioners? Lecturers should address rather students' positive emotions like pride than anxiety in online learning settingsfoster learners' interest to enhance pride, as well as outcomes like satisfaction and competence gainstrengthen students' self‐efficacy to decrease anxiety that is linked to lower satisfaction [ABSTRACT FROM AUTHOR]