The process model of vocational identity was well applied in various Western countries to study the vocational identity process and statuses of college students. However, such research is limited in Hong Kong. Moreover, the relation between vocational identity development and academic performance was inconclusive in the literature, and it was also not tested among Hong Kong students. In light of these, the current study aimed to empirically identify and validate vocational identity statuses among a sample of 576 sub-degree students in Hong Kong using the vocational identity process model. Relations of vocational identity processes and statuses with perceived academic performance were also tested. Six vocational identity statuses were empirically derived in the Hong Kong Chinese context. Vocational identity statuses also differentiate perceived academic performance. Moreover, we found that career flexibility and self-doubt were significantly related to perceived academic performance. Implications of the results for theory and practice are discussed.