Goal setting (GS) is regarded as a key component of the forethought phase of self-regulation. Given that self-regulation has been widely recognised as an important contributor to academic outcomes, the present study sought to further explore how GS influences English learning performance (ELP), with learning engagement (LE) considered as a mediating factor in the context of English as a Second Language (ESL). 295 English major students from a college in China were invited to complete three instruments: the Goal Setting Scale, the School Engagement Measure, and the English Self-ratings Measure, which measure students’ GS, LE, and ELP, respectively. The descriptive and correlation analysis was done, and the mediation model was tested. The results showed: (1) The GS, LE and ELP of the ESL Chinese college students were all at a relatively moderate level; (2) GS, LE, and ELP were significantly interconnected; (3) LE served as a partial mediator between GS and ELP, indicating that students’ goal-setting behaviors contribute to better English learning by fostering greater engagement. Chinese ESL students and English teachers are suggested to place emphasis on both setting goals and engagement for students’ English study.