This study aimed to verify the effects of participation motivation in sports climbing on leisure satisfaction and physical self-efficacy. Structural equation modeling was used to analyze the causal relationships between participation motivation in sports climbing, leisure satisfaction, and physical self-efficacy, and to determine participation motivation. This study examined this causal relationship by verifying leisure satisfaction’s mediating effect on the relationship between participation motivation in sports climbing and physical self-efficacy. The participants of this study included 324 individuals over the age of 20 years with at least three months of sports climbing experience in the Seoul and Gyeonggi regions. The results indicated that among the subfactors of participation motivation in sports climbing, only skill acquisition and achievement positively affected leisure satisfaction, that leisure satisfaction positively affected physical self-efficacy, and that leisure satisfaction mediated the relationship between skill acquisition and achievement among the subfactors of participation motivation in sports climbing and physical self-efficacy. This study indicated that improved leisure satisfaction through sports climbing increases physical self-efficacy, including perceived improvement in physical abilities and confidence in interpersonal relationships. Accordingly, to expand and sustain participation, a systematic system for sports climbing instruction and educational programs is required to increase skill acquisition and a sense of accomplishment.