<p>Effective socially shared regulation of learning (SSRL) in computer-supported collaborative learning (CSCL) often fails to occur because students lack awareness of their peers’ and groups’ activities, thus leading to unsatisfactory learning outcomes. While both group awareness (GA) support and students’ self-regulated learning (SRL) levels are critical to CSCL, previous research has considered them separately, and investigation of their combined effects, especially on students’ SSRL, remains limited. Addressing these gaps, the present study conducted an 18-week experiment with a two-level factorial design to examine the main and interaction effects of GA support (present versus absent) and students’ SRL levels (high versus low) on perceived SSRL skills, observed SSRL behaviors, group task performance, and individual knowledge achievement. A total of 54 undergraduates enrolled in an Educational Research Methods course were randomly assigned to either a GA+ class (<i>n</i> = 28) or a GA− class (<i>n</i> = 26). The results revealed that: (1) GA support showed significant positive effects on all four measured variables, (2) SRL levels showed no significant main effects on these core measures, and (3) interaction analyses suggested that GA support substantially improved overall perceived SSRL skills among low-SRL students, whereas high-SRL students showed greater gains in the monitoring and adapting dimensions of observed SSRL behaviors. No interaction effect emerged for individual knowledge achievement. On the basis of these findings, several practical implications for facilitating successful collaborative learning are proposed.</p>