Drawing on the assumptions of control-value theory (CVT), the current study examined whether the four facets of test anxiety (emotionality, worry, interference, lack of confidence) serve as intervening variables between learners' characteristics (performance-approach goals, mastery experiences) and learning behaviour (perseverance and diligence), which, in turn, should predict academic performance. Based on a sample of 696 Italian university students (58.11% female; M[subscript age] = 21.64, SD[subscript age] = 4.04), structural equation modelling largely supported the proposed structure of relationships. Mastery experiences and performance-approach goals were differentially related to the four facets of test anxiety. Regarding test anxiety, lower levels of interference and lack of confidence, yet higher levels of worry, were associated with a greater use of perseverance and diligence, which in turn, predicted a better grade. The findings suggest that CVT provides a useful framework to explore the differential role of test anxiety facets between learners' characteristics and learning behaviour, which may be beneficial for performance.