Learning style is traditionally assumed to be a predictor of learning performance, yet few studies have identified the mediating and moderating effects between the two. This study extends previous research by proposing and testing a model that examines the mediating processes in the relationship between learning style and e-learning performance and the moderating effects of prior knowledge. The results show that the sensory/intuitive dimension of learning style predicts learning performance indirectly through the mediation of online participation. However, other types of learning styles do not affect online participation. Sensory students demonstrate a higher level and intuitive students a lower level of online participation. Prior knowledge plays an important role as a moderator between online participation and learning performance. This study was conducted in the context of software usage instruction using empirical data from 219 undergraduate students.