Blended learning has gained significant popularity; however, there were few empirical studies on students' perceptions of blended course adaption and blended learning effectiveness in higher education. The aim of the present study is to: (a) describe the degree of blended learning effectiveness, student engagement, student academic motivations, and student learning outcomes in higher education; (b) examine the relationships between perceptions of blended learning effectiveness and student learning outcomes; and (c) investigate the mediating role of student engagement and the moderating role of student academic motivation and in the blended learning model. The paper addressed research questions through a non-experimental, correlational design and collected feedback from 79 undergraduate students who experienced blended learning. Results showed that: (1) Students perceived blended courses as relatively highly effective and engaging (mean = 4.47); (2) There was a positive association between the effectiveness of blended learning and student learning outcomes in higher education institutions (r = 0.586, p < 0.01); (3) Perceptions of blended learning effectiveness indirectly influenced student learning outcomes through student engagement; and (4) Student academic motivation moderated the relationship between student learning outcomes and effectiveness of blended learning. In other words, perceptions of blended learning effectiveness would increase student engagement, which in turn improves student learning outcomes. The study concludes with additional findings, explanations, limitations and suggestions for future studies aimed at educators, administrators, and policymakers.