This study was designed to investigate the relationship between Locus of Control (both internal and external) and academic achievement. Emphasis was put on trying to establish the relationship between internal locus of control, external locus of control and academic achievement of graduating class university students at Wolaita Sodo University. The study employed the use of correlation design to establish the nature of the relationships. The validity and reliability of research instruments was established and data was collected from 313 respondents selected from three colleges and two schools in the university by using the simple random sampling method. To analyze the data, the analysis of variance (ANOVA), T-Test, and Pearson product moment correlation statistical tools were used with the aim of establishing the difference and relationship between students’ locus of control and their academic achievement of university graduating class students. Findings revealed the existence of a significant difference in academic performance in students of different age, significant difference in academic achievement of students from different gender groups.