The major objectives of our study were (a) to identify student profiles according to five homework characteristics (homework time, frequency, quality, interest, and favorability) and (b) to examine their relationship with three critical variables in the homework process—homework effort, completion, and math achievement. Latent profile analysis (LPA) was used to examine a data set with 3018 8th graders in China. Based on these characteristics, five distinct profiles were identified: Profile 1 (Low), Profile 2 (Moderate Time/High With Others), Profile 3 (Low Frequency/Moderate With Others), Profile 4 (Moderate Time/High Frequency/Low With Others), and Profile 5 (High Time and Frequency/Moderate With Others). Parent education was positively associated with the two healthiest profiles (Profile 2 and Profile 5). Finally, profile membership was a significant predictor of homework effort, completion, and math achievement. Specifically, our study suggests that students can work about 30 min on math homework and achieve the same results, if they work often, with high quality, fueled by interest and favorability (compared with students who spend about 110 min on math homework). Taken together, our study provided novel insights into the combination of homework characteristics that could have significant implications for homework practice and research.