Despite the recognized importance of self-efficacy and self-regulated learning (SRL) in EFL learning, few studies have explored the interactions among self-efficacy, SRL, and EFL performance within Asian learning contexts, which are often characterized by teacher-centered instructional approaches. Given this gap, the purpose of this study is to examine the mediating effect of SRL on the relationship between self-efficacy and EFL performance among Chinese undergraduates. Using Likert-scale questionnaires, data were collected from 464 participants enrolled in public universities in Hangzhou, China. Structural equation modeling (SEM) results indicate that SRL significantly mediates the relationship between self-efficacy and EFL performance. However, the findings also reveal that the mediating effect of SRL ranges from weak to moderate, highlighting the complexity of the EFL learning process and suggesting the need to consider additional factors for a deeper understanding. Finally, the study discusses the pedagogical implications derived from these findings.