Metacognitive awareness, broadly the capacity to monitor and control one's own cognitive processes, is widely invoked as a foundation of effective academic self-regulation, yet the empirical literature connecting the two constructs is scattered across distinct methodological traditions that rarely cite one another. This review synthesizes evidence from three such traditions: laboratory studies of metacognitive monitoring and control using judgments of learning and confidence ratings, questionnaire-based research using instruments such as the Metacognitive Awareness Inventory, and classroom intervention studies teaching explicit metacognitive strategies. Across these literatures, a consistent picture emerges in which monitoring accuracy, or calibration between confidence and actual performance, predicts self-regulatory behaviors such as study-time allocation and strategy selection more reliably than global self-report measures of metacognitive knowledge alone. We examine the developmental trajectory of metacognitive monitoring from childhood through emerging adulthood, the persistent overconfidence bias documented in novice learners, and the conditions under which delayed judgments of learning and generation-based study techniques improve calibration. We further evaluate classroom-based metacognitive strategy instruction, finding moderate but heterogeneous effects on academic achievement that depend heavily on whether interventions target monitoring, control, or both, and on whether transfer is assessed within or across domains. Persistent measurement problems are identified, including weak convergence between trait-level questionnaires and task-based monitoring indices, and inconsistent operational definitions of self-regulation across studies. We propose an integrative framework distinguishing metacognitive knowledge, online monitoring accuracy, and regulatory control as separable but interacting components, and argue that future research should prioritize longitudinal, multi-method designs capable of testing directional and reciprocal relations between these components and academic outcomes across educational transitions.