The purpose of this study is to investigate the relationship between college students’ evaluative concerns perfectionism, cognitive flexibility, social anxiety, and academic burnout, and to reveal the impact of evaluative concerns perfectionism on academic burnout through the medium of cognitive flexibility and social anxiety. A survey was conducted on 328 students in the 1st to 4th grade attending four universities in Busan, and the data was analyzed using a parallel multi-parameter model that estimates the mediating effect of several variables simultaneously. The main results of this study are as follows. First, the evaluative concerns perfectionism of college students showed a negative correlation with cognitive flexibility, and a positive correlation with social anxiety and academic burnout. Cognitive flexibility was negatively correlated with social anxiety and academic burnout, and social anxiety was positively correlated with academic burnout. Second, as a result of verifying the effect of parallel multi-mediation, it was found that the mediating effect of cognitive flexibility and social anxiety on the relation between the evaluative concerns perfectionism and the academic burnout was significant. This means that college students' evaluative concerns perfectionism not only affects academic burnout directly, but also indirectly through cognitive flexibility and social anxiety. The results of this study will be helpful to enhance the understanding of college students’ academic burnout, and can be used as basic data to cope with related issues in universities.