Effects of positive performance feedback on self-reported emotion and associated physiological responding and their relation to motivational engagement were investigated in an achievement context. To create a situation of self-relevant goal striving and goal attainment, appraisals of goal relevance and goal conduciveness were manipulated by presenting 65 female undergraduate students with a psychological test, followed by positive performance feedback. Emotional responding during the 1-min feedback showed elicitation of various positive achievement-related emotions associated with broad sympathetic activation (decreased pre-ejection period, increased cardiac output, and increased skin conductance and response rate). Individual-level emotion reports indicated distinct subgroups of participants experiencing primarily either interest, joy, pride, or surprise. Between-participants physiological reactivity was found to differ based on primary self-reported feelings. We discuss motivational antecedents and consequences in achievement-related emotions.