Previous research has proposed a conceptual model of the relationships between motivation, emotions, cognition, and metacognition related to students' learning performance and validated it in a blended learning context that combines traditional learning with the use of educational technology. This study examined these relationships to test the hypothesis that the levels of some factors in a face-to-face learning environment differ from those in a blended learning context, finding that the conceptual model is valid for both settings. The role of positive emotions was significant in blended learning but not in face-to-face learning. Furthermore, help-seeking and peer learning were relevant only in blended learning. A positive relationship between academic motivations and metacognitive strategies was found in the face-to-face context, whereas one from motivations to metacognitive and cognitive strategies was found in the blended context. Negative emotions were present in both learning settings. This shows that the role of emotions is relevant to students' perceived success.