The purpose of this study is to find out the level of speech anxiety of last year students at Education Faculties and the effects of speech anxiety. For this purpose, speech anxiety inventory was delivered to 540 pre-service teachers at 2013-2014 academic year using stratified sampling method. Relational screening model was used in the study. To explain the relationships among data in the study, frequency and percentage analysis, t-test, ANOVA, regression analysis and structural equation modelling were used. It is seen that preservice teachers have speech anxiety problems when they have to speak during their teaching activities, when they are demanded to speak all of a sudden, when their speech is interrupted, when they consider that they do not have different points of view and when they cannot balance their speech speed. Preservice teachers use their body language as they are giving speech, and they have less anxiety when they have eye contact with their audiences, when are talking about themselves and when they are talking about the people they do not know. When preservice teachers' speech anxiety was investigated with regards to their departments, preservice English teachers and Turkish teachers were found to have higher levels of speech anxiety compared to preservice preschool teachers. When the findings obtained with this study were examined, it was found that, as preservice teachers' speech anxiety increases, their desire to participate in the activities also increase.