The primary achievement of distance and regular students is managing time effectively. Mismanagement disturbs the academic achievements of learners. Time administration plays a significant role in improving learners' performance and accomplishments. It is a skill to manage time and every learner must familiar and command on this skill for the sake of better results. A student can only survive if he/she has ability of time utilization properly. The motive of this study was to establish path relationship of time management and academic achievement of students in distance learning institutions through structural equation modeling. The population of the study was consisted of distance learning students of Virtual and Allama Iqbal Open Universities. Four hundred participants belong to different departments were participated conveniently in this study. Self-developed questionnaires regarding time management and academic achievement on five point likert scale were used to collect data from respondents. Validity was ensured by field experts before using scales. Internal consistency was checked among items by applying Cronbach alpha, rho-a, and composite reliability for reliability confirmation of scales. All three techniques verified that instruments are valid and reliable. Data were analyzed by smartly for path analysis. There was strong positive relationship between time management and academic achievement r = 0.778 of distance learning students. It is concluded that both variables are associated with each other and time utilization skill affects students learning seriously. Students of web-based learning may more focus on proper time managing ability for better academic success.