Academic Performance (AP) is of primary importance to undergraduate students because it is related to future economic and occupational success. Therefore, it is not surprising that students want to maximize their Grade Point Average (GPA), by studying hard so as to perform well in their examination which is the common measure of AP. This study explored the effect of Caffeine and Gender on Academic Performance among undergraduate students. 32 volunteered undergraduates studying Psychology in Enugu State University of Science and Technology (ESUT) were randomly assigned to groups: experimental and control groups. The experimental group which comprised 16 subjects, 8 males 8 females was administered with caffeine as a treatment condition; whereas the control group which was made up of 8 males and 8 females' subjects were given chocolate tea as a placebo. A two- way ANOVA (F-test) was employed to test the hypothesis. Results confirmed non-significant effect of caffeine use on Academic performance F (1, 28)=.056p.05 Also there was non - significant influence of gender on academic performance F(1,28)=1.073,p.05 and no interaction effect of caffeine and gender on academic performance.