The adoption of online learning modalities has increasingly become prevalent, particularly with the advent of COVID-19, aiming to ensure student access to learning materials. This significant shift towards offering online educational formats compels educational institutions to alter their approach and develop curricula to guarantee an optimal student experience and satisfaction within the online environment. The aim of this research is to comprehensively examine the key factors that significantly impact the satisfaction of undergraduate students with online learning in Vietnamese universities. The quantitative research methodology was implemented through the collection of surveys from a total of 437 Vietnamese students. Utilizing the PLS-SEM statistical approach, the findings reveal that technology, communication, course, outcome, and motivation for learning have significant positive influences on students’ satisfaction with online education during the COVID-19 pandemic, while the effect of instructors’ attitude and the sudden change from traditional to online classes have been found with as nonsignificant. Valuable implications and practical recommendations are suggested for educational organizations and institutions in Vietnam to enhance specific activities that promote students’ satisfaction with online learning and improve teaching methods provided by instructors.