Teachers have an important role in creating effective and efficient learning environment. Besides teachers' field and pedagogical related knowledge, some affective and cognitive characteristics of teachers would affect the qualification of the learning environments, which they create. Therefore, it is also important to investigate preservice teachers' teacher efficacy beliefs to improve the quality of the education. The aim of this study is to investigate the effect of preservice physics teachers' metacognitive self regulation and physics self efficacy beliefs on their teacher efficacy beliefs. Study group of this research consists of 111 preset-vice physics teachers. Research data were collected through "Teachers' Sense of Efficacy", "Use of Metacognitive Strategy in Physics" and "Physics Selfefficacy" scales. Descriptive statistics and multiple regression analysis were conducted for the analysis of the data. Research data showed that preset-vice physics teachers' have high level of teacher efficacy beliefs, use of metacognitive strategy skills and physics self efficacy beliefs. In addition to this, the results of this research indicated that use of meatcognitive strategy in physics and physics self efficacy beliefs contribute significantly to predict preservice physics teachers' teacher self-efficacy beliefs and the whole model explains 26% of the variance.