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The purpose of this study is to examine the impact of student- and school-level factors on math achievement. In the six-wave panel data of the Gyeonggi Educational Panel Study (GEPS) in Korea, the nine grade students’ learning strategy, math learning attitude, and math self-efficacy were selected as independent variable. As a dependent variable, math test scores were used. The data was analyzed by adopting HLM. The result has been proven that students’ learning strategy, math attitude, and math self-efficacy positively affects math achievement and there is a positive school contextual effect of self-efficacy. The cross-level moderating effect indicated that the relation of individual’s self-efficacy with math achievement becomes greater as the value of school mean self-efficacy get higher.