Limited research has been conducted so far to explore how meaning in life can promote key academic and psychological benefits in a school context. The research reported here aimed to address this issue by assessing how meaning in life is associated with dimensions of connectedness, academic self-efficacy (Study 1) and personal self-efficacy (Study 2). Participants were two samples of Hong Kong secondary school students. Study 1 revealed that meaning in life was associated with a higher level of connectedness to parents, school, peers, and teachers, and academic self-efficacy (study skills, time management, critical and creative thinking, and involvement in learning). Most connectedness dimensions were linked to lower academic self-efficacy, apart from connectedness to school. Study 2 showed that meaning in life was linked to higher levels of connectedness and personal self-efficacy dimensions (positive self-concept, problem-solving, self-management, and self-reflection). Apart from connectedness to school, other connectedness dimensions were associated with lower personal self-efficacy. Across studies, meaning in life had indirect effects on both self-efficacy through the mediating influence of connectedness. Theoretical and practical implications are discussed.