One of the basic aims of education is to facilitate students' learning and to make it permanent. Researching and identifying the factors which can positively or negatively affect students' learning hold a great deal of importance in terms of actualizing learning. The aim of this study is to determine whether or not there is a relationship between elementary school students' (5th, 6th, 7th, and 8th grades) mathematics self-regulation abilities and their mathematics anxiety. The sample of the research was composed of a total of 283 students (141 males and 142 females) who went to public school located in Erzurum. Both Mathematics Anxiety Scale and Self-Regulation Skill Scale for elementary school students were used as data collection tools of the study in which causal research design was used. SPSS 18.0 package program, the Pearson Product-Moment Correlation Coefficient Analysis and the Multilinear Regression Analysis were used in analyzing the data. In view of the obtained findings, a negative relationship was found between mathematics anxiety and self-regulation skill [rv=v-0.27].