The aim of the present study was to examine how different types of tracking— between-school streaming, within-school streaming, and course-by-course tracking—shape students’ mathematics self-concept. This was done in an internationally comparative framework using data from the Programme for International Student Assessment (PISA). After controlling for individual and track mean achievement, results indicated that generally for students in course-by-course tracking, high-track students had higher mathematics self-concepts and low-track students had lower mathematics self-concepts. For students in between-school and within-school streaming, the reverse pattern was found. These findings suggest a solution to the ongoing debate about the effects of tracking on students’ academic self-concept and suggest that the reference groups to which students compare themselves differ according to the type of tracking.