This study focused on the differences between two subtypes of envy known as “benign envy” and “malicious envy” as personality traits, and examined the effects of these traits on academic achievement. Two hundred fifty-one university students participated in the study. Both benign envy and malicious envy were found to be independent as also found in a previous study by Lange & Crusius (2015), and a high criterion-related validity was revealed by an association with characteristic variables such as dispositional envy and self-esteem. The students with higher levels of benign envy were found to set goals higher, and as a result, achieved higher levels of academic performance. In contrast, no such effect was found for malicious envy. The importance of focusing more attention on the positive aspects of the emotion of envy is discussed.