This study explored the relationship between technology acceptance and learning satisfaction within a virtual learning environment (VLE) with cognitive presence, cognitive engagement, social presence, and emotional engagement as mediators. A total of 237 university students participated and completed a questionnaire after studying in the Virbela VLE. The results revealed direct and indirect links between technology acceptance and virtual learning satisfaction. The mediation analysis showed the critical mediating roles of cognitive presence and emotional engagement in fostering satisfaction. There also appeared to be a sequential mediating pathway from technology acceptance to learning satisfaction through social presence and emotional engagement. Notably, cognitive engagement and social presence did not have a significant mediating effect on satisfaction. These results provide a supplementary perspective on how technological, cognitive, and emotional factors can enhance student satisfaction in VLEs. The study concludes with several implications for future research and practice of VLEs in higher education.