This Chapter presents the results of an experimental study of the effects of Virtual and Augmented Reality (VAR) learning environments on students’ academic performance and self-efficacy (SE). In the study, SE was measured across three dimensions, course-specific SE, content-specific SE, and problem-specific SE. VAR simulations were used to teach engineering students about abstract concepts and hands-on experience. Quantitative data on students’ academic performance and SE were collected using Likert questionnaires administered before and after the VAR teaching activities. Focus group discussions were conducted as a qualitative manner to gain an in-depth understanding of student’s overall learning experience in the VAR environment. The results have shown that VAR learning activities had a positive effect on students’ academic performance and SE. Across three SE dimensions, problem-specific SE had the greatest improvement. The implications of the results are then discussed for further research in the field of VAR technology-enhanced learning.