Previous studies that explored the impact of task-related variables on translation performance focused on task complexity but reported inconsistent findings. This study shows that, to understand the effect of task complexity on translation process and its end product, performance in translation tasks of various complexity levels needs to be compared in a specific setting, in which more factors are considered besides task complexity—especially students’ translating self-efficacy belief (TSEB). Data obtained from screen recording, subjective rating, semi-structured interview, and quality evaluation were triangulated to measure how task complexity influenced the translation performance of Chinese students with high and low TSEB. We found that the complex task led to significantly longer task duration, greater self-reported cognitive effort, lower accuracy, and poorer fluency than the simple one among students, irrespective of their TSEB level. Besides, the high-TSEB group outperformed the low-TSEB group in translation accuracy and fluency in both tasks. However, the interaction effect of task complexity and TSEB was not significant, due possibly to weak problem awareness among students. Our study has implications for effectively designing task complexity, getting the benefits of TSEB, and improving research on translation performance.