The purpose of the present study was to test a model explaining self-efficacy and anxiety by the interrelationships with task value, cognitive strategies (rehearsal, elaboration and organisation) and metacognitive self-regulation in the domain of chemistry. Data were collected from 518 college students in Turkey. Findings of structural equation modelling indicated that chemistry self-efficacy and anxiety were predicted as a function of task value, cognitive strategies and metacognitive self-regulation, supporting the proposed model. That is, students with high levels of task value tended to use more learning strategies which promoted the use of regulatory strategies. In turn, these students may decrease their chemistry anxiety, leading to an increase in chemistry self-efficacy indirectly.