Investigated the relationship between perceived self-efficacy and level of depression and tension in a sample of 414 students (93 males and 321 females) in their 3rd and 4th year at the Faculty of Education, University of Jordan. The instruments were the Scale of Self-Efficacy, an Arabic version of the Beck Depression Check-list, and the Tension Scale. A t-test revealed significant differences in perceived self-efficacy attributed to gender, level of depression, and level of tension. Males had higher perceived self-efficacy than females as indicated by the total score and, emotional, and cognitive dimensions subscores. Students with lower level of depression, and those with lower level of tension had higher perceived self-efficacy as indicated by the total score and subscores of emotional, cognitive, and behavioral dimensions. A Stepwise Multiple Regression Analysis revealed that tension and the cognitive dimension of self-efficacy explained together 34.7% of the variance in depression. A second Stepwise Multiple Regression Analysis revealed that depression, cognitive, and emotional dimensions of self-efficacy explained together 46.4% of the variance in tension. Cognitive dimension added 11% and emotional dimension added 2% to the variance explained.