Academic buoyancy describes the ability to successfully overcome and recover from setbacks in an academic context (e.g., a poor grade, motivational dips, stress due to upcoming performance exams). This day-to-day form of academic resilience has recently been defined in the context of positive psychology. The present study aimed to gain insights into the mechanisms of academic buoyancy by predicting math achievement. Since there is already evidence that this relationship is rather indirect than direct, we were particularly interested in investigating a potential actor of an indirect effect, namely academic self-efficacy. For this purpose, n = 974 students at eleven secondary schools in southwestern Germany were surveyed through a questionnaire. The data were analyzed using a latent variable approach. The results of the study show that academic buoyancy is a significant predictor of math achievement and that this relation is explained through academic self-efficacy, even when controlling for gender. Implications for practice and further research are also discussed.