We present a three-dimensional taxonomy of achievement emotions that considers valence, arousal, and object focus as core features of these emotions. By distinguishing between positive and negative emotions (valence), activating and deactivating emotions (arousal), and activity emotions, prospective outcome emotions, and retrospective outcome emotions (object focus), the taxonomy has a 2 × 2 × 3 structure representing 12 groups of achievement emotions. In four studies across different countries (N = 330, 235, 323, and 269 participants in Canada, the United States, Germany, and the U.K., respectively), we investigated the empirical robustness of the taxonomy in educational (Studies 1–3) and work settings (Study 4). An expanded version of the Achievement Emotions Questionnaire was used to assess 12 key emotions representing the taxonomy. Consistently across the four studies, findings from multilevel facet analysis and structural equation modeling documented the importance of the three dimensions for explaining achievement emotions. In addition, based on hypotheses about relations with external variables, the findings show clear links of the emotions with important antecedents and outcomes. The Big Five personality traits, appraisals of control and value, and context perceptions were predictors of the emotions. The 12 emotions, in turn, were related to participants’ use of strategies, cognitive performance, and self-reported health problems. Taken together, the findings provide robust evidence for the unique positions of different achievement emotions in the proposed taxonomy, as well as unique patterns of relations with external variables. Directions for future research and implications for policy and practice are discussed.