This study aims to validate Fantini’s intercultural competence scale in a sample of foreign students in a Central European context, and to figure out the pathways which are critical in improving the intercultural competence of foreign students. To achieve that, the study used confirmatory factor analysis (CFA) to construct the structural equation model (SEM). The results indicate that the scale is reliable and valid for assessing foreign students’ intercultural competence. In addition, using the first-order CFA as a baseline model, the SEM indicates that each intercultural knowledge, attitude, and skills are essential in predicting the intercultural awareness of the students. On the other hand, enhanced awareness plays an important role in promoting the development of these factors. Based on that, the study provides university decision-makers with valuable information which can be helpful in formulating related policies and rules aiming to enhance the integration and intercultural contact between foreign and Hungarian students at the university environment.