This study investigates the impact of perezhivanie, a concept encompassing emotional experiences and their personal significance on English-speaking proficiency and speaking anxiety among Chinese learners of English as a Foreign Language (EFL). The study focuses on the emotional and cognitive dimensions of perezhivanie to understand its dual role in shaping speaking proficiency and anxiety. The study uses a mixed-method approach, involving quantitative surveys and qualitative interviews with Chinese EFL learners. In doing so, the factor was analyzed by structure equation modeling (SEM) and a model was proposed. The findings indicate a significant correlation between perezhivanie and speaking proficiency, suggesting that positive emotional experiences and their meaningful integration can enhance language performance. Conversely, perezhivanie was also found influencing speaking anxiety, with negative emotional experiences exacerbating anxiety levels. The study underscores the complex interplay between emotional experiences and language learning outcomes, highlighting the need for pedagogical strategies that address emotional well-being to improve both proficiency and reduce anxiety in EFL contexts. These insights offer valuable implications for educators and policymakers aiming to foster a more supportive and effective language learning environment for Chinese EFL learners.