Online learning is on the rise, and it is becoming an important mode of learning in higher education. However, there are limited models that explain the link between learners' characteristics, learning processes, and outcomes in an online learning environment. This study aims to examine the influence of online self-regulation on the experiences and engagement of students during online learning processes and their outcomes in terms of satisfaction and academic performance. A quantitative correlational design was used to achieve the objective of this study. Data collection was carried out using an online survey. A total of 609 undergraduates from four public and private universities in Malaysia were sampled. The partial least squares structural equation modeling (PLS-SEM) was run to analyze the obtained data. The results showed that online self-regulation is a presage factor affecting online learning processes. It significantly and positively affects students' experiences and engagement in an online environment. These three factors explained more than two thirds of the variance in satisfaction, a key learning outcome of online learning. However, its predictive value for academic performance was weaker. The developed model can be used as a framework to promote positive online learning outcomes among undergraduate students. The implications of the study and recommendations for future research are discussed in this paper.