This study aimed to investigate the effects of principal effectiveness and teacher effectiveness on student learning achievement. The researcher selected elementary school teachers as the subjects. A total of 2000 questionnaires were issued, with 1221 valid questionnaires returned. The results of the study were as follows: First, the teachers identified strongly with the elements of principal effectiveness, teacher effectiveness, and student learning achievement. Second, there were significant differences among teachers with different backgrounds in their perceptions of principal effectiveness, teacher effectiveness, and student learning achievement. Third, principal effectiveness and teacher effectiveness were found to have a significant and positive impact on student learning achievement. Fourth, a significant correlation was found between principal effectiveness and teacher effectiveness, with correlation coefficients between .78 and .88. Finally, principal effectiveness and teacher effectiveness were found to have a predictive power of 77% for students’ learning achievement.