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Purpose- Economic turmoil, rapid changes and instabilities in the labor market may create disturbance regarding the individuals’ perceptions of employability. At this point, obtaining and managing a successful career draw attention to coping with a constantly changing environment. Vocational psychology has recently focused more on individual factors such as personal characteristics, perceptions and attitudes which provides individuals to manage their careers better. The concept of perceived future employability, which is one of the substantial factors for the development of a successful career for young adults, denotes the perceptions and beliefs about the likelihood of success in the graduate labor market. Due to its effects on young people’s career decisions, goals and success, it is important to identify possible antecedents of perceived future employability. However, little is known about the factors forming the perception of future employability. To fill this gap, the present study aims at investigating the role of career adaptability and self-efficacy in predicting perceived future employability by using social cognitive career theory. Methodology- Quantitative research methods were adopted in the present study. Data were obtained from 237 undergraduate business students and analyzed using statistical programs. Findings- Results indicate that career adaptability has a positive association with perceived future employability. In addition, self-efficacy has a mediating effect on the relationship between career adaptability and perceived future employability. Conclusion- Based upon the findings it may be concluded that both career adaptability and self-efficacy are identified as important determinants of perceived future employability. Keywords: Perceived employability, career adaptability, self-efficacy, social cognitive career theory, vocational psychology JEL Codes: M54, M15, M10