Nowadays, distance learning education has started to become familiar in behalf of classical face to face education (F2F) model. Web based learning is a major part of distance education systems. Web based distance learning can be defined shortly as an education type which doesn't force students and educators being into the same mediums. This education model has a student-centered structure. In this type of education students can learn given lectures without dependency of time and place. And also students can communicate with their educators via various technology platforms. This is a fact that there are many factors have been effecting achievement of students in web-based distance learning. The success of students can be increased while determining weighted achievement factors. This study aims for determining critical achievement factors in a case study of e-MBA distance education program held Sakarya University, by using structural equality model. (Contains 12 tables and 11 figures.)