The continuous development of information technologies has changed the way in which education is organized. Students are now more likely to choose e-learning in order to achieve better results during their studies. To examine the influence of e-learning application on academic success, the study inspected multidimensional relationships in e-learning. The research is directed towards improvement of students' academic success. The research was conducted on the territory of Bosnia and Herzegovina (BiH), and for that purpose a random sample was used. Data from students were collected through a questionnaire while hypotheses were proven with the help of the structural equation model (SEM). Results have shown that metacognitive strategies and computer self-efficacy have a direct significant influence on academic success, while the set goals do not directly influence academic success. In addition to that, this research has proved that online environment and social interactions with other participants play a significant role in the achievement of academic success. The results obtained in this research will help higher education institutions improve their e-learning strategies and implementation efforts. Furthermore, the used research model contributes to the improvement of understanding of e-learning, both in practice and in theory.