The present study investigated the self-reported psychological characteristics, leadership style and leader effectiveness of female leaders(i. e., female professors) in college and the effect of the gender-related cultural factors on the perceived effectiveness, in comparison with male professors. 93 male and female professors were asked to evaluate themselves on a survey questionnaire regarding self-esteem, leader confidence, gender-equality consciousness, leadership style, leader effectiveness and the organizational culture regarding gender equality. The results demonstrated that female professors evaluated their self-esteem, professionalism, gender equality consciousness and gender consciousness(or involvement) higher than male professors. They also evaluated their task-oriented and transformational leadership as well as the instructional effectiveness higher than male professors did. Female professors perceived higher gender prejudice and counter-equality organizational practice in their colleges than male professors did, which was related to lower gender self-esteem and higher femininity. Ironically, the effectiveness of female professors in colleges where gender prejudice and counter-equality practice was high, was positively related to the masculine characteristics while negatively related to gender self-esteem. The theoretical and practical implications of these findings were discussed.