The objective of this study was to explore the relationship between the educational aspirations of students and their learning achievements. Structural equation modeling with cross-lagged panel modeling and latent growth curve modeling were used to analyze the core panel sample (n = 1,651) data of the Taiwan Education Panel Survey (TEPS) in 2001, 2003, 2005, and 2007. Results of this study show that the cross-lagged effect of the educational aspirations of students predicting their subsequent learning achievements was statistically significant, and the crosslagged effect of learning achievements predicting their subsequent educational aspirations was also statistically significant. Moreover, the correlation between the initial status and the growth rate of the educational aspirations of students was positive; the correlation between the initial status and the growth rate of learning achievements was also positive. Additionally, the initial status of the educational aspirations of students positively predicted the growth rate of learning achievements, and the initial status of learning achievements positively predicted the growth rate of the educational aspirations of students.