Background: Since the outbreak of COVID-19, universities in Hong Kong have implemented online and hybrid teaching modes, making computer-assisted language learning (CALL) a primary way for English learning. Research on English learning motivation and self-regulation has seldom considered learners' emotions (satisfaction and preparedness) and the synchronic online courses in a CALL context. Objectives: This study analyses the relationship between Hong Kong university students' motivation and self-regulation by considering their emotions in computer-assisted synchronic online English courses. Methods: 311 Hong Kong university students were invited to complete two questionnaires that investigated students' motivation and self-regulation in computer-assisted online English courses. SPSS 26 was employed for exploratory factor analysis (EFA) to extract factors and exclude unsuitable items, and confirmatory factor analysis (CFA) was performed to verify the results of EFA. One-way ANOVA was conducted to detect the impact of personal emotion on motivation and self-regulation. AMOS 26 was adopted to construct a structural equation model (SEM) to explore the relationship between motivation and self-regulation in the CALL context. Results and Conclusions: The results show that satisfaction and preparedness positively correlate with online English learning motivation and self-regulation. Instrumentality-attitude significantly predicts all factors of self-regulation via SEM and goal setting significantly predicts all factors of motivation. With feasible English learning goals, Hong Kong university students are more proactive in learning English online where they actively interact with teachers and peers. Implications: Based on the L2 self-system (Dörnyei, The psychology of the language learner: Individual differences in second language acquisition, 2005) and self-determination theory (Barnard et al., Internet and Higher Education, 2009, 12, 1–6), this study clarifies the relationship