The scale of investment and construction of megaprojects has been increasing in the past decades, yet targeted research on the success of construction megaprojects is still a lack. In the Chinese context, an in-depth discussion of the causal relationship between critical success factors and megaproject success will help managers to manage megaprojects more systematically and effectively. Therefore, based on the previous research on key performance indicators for evaluating the success of construction megaprojects and the critical success factors, this paper investigated the relationship by testing the hypothesis between key performance indicators and critical success factors using PLS-SEM. The results show that only economic and organizational factors are positively associated with key performance indicators in the hypothesized model. Economic factors and organizational factors emerged as the main critical success factors influencing the success of construction megaprojects. The results of this article can enrich the knowledge system of the construction megaproject success and provide a theoretical basis for decision-makers to enhance related management of construction megaproject success.