Recent studies have revealed that the development of self-regulation and social skills in preschool children is important for later academic success, social acceptance and psychological wellbeing. Children who lack these skills are at risk for not being able to socialize and may face rejection behaviors among peers, show aggressive behaviors, or suffer from other personal issues which prevent them from being successful in life. The present experimental study was conducted to examine the effects of foreign language acquisition on preschool children's self-regulation and social skills. In this respect, although there are studies examining the effect of social and/or self-regulation skills on foreign language learning, the field is lacking studies which examine the inverse relationship: the effect that foreign language learning has upon these skills. The present study endeavors to contribute to the literature in this sense. According to the results, it is seen that foreign language acquisition has a positive effect on preschool children's self-regulation and social skills. Considering the results, it can be said that more foreign language programs should be designed with specific consideration for developing children's self-regulation and social skills. Additional research studying different age groups, larger sample groups or with different language programs is recommended.