Foreign language anxiety (FLA) is a distinct form of anxiety that plays a significant role in the process of acquiring a foreign language. This study aimed to assess the anxiety levels of Chilean undergraduate learners and investigate the potential correlations between foreign language anxiety and oral performance in two distinct learning settings: traditional in-person instruction and online learning. Employing a mixed methods research design, the study incorporated an adapted version of the Foreign Language Classroom Anxiety Scale (FLCAS) survey, an oral task, and semi-structured interviews. By triangulating the quantitative and qualitative findings, it was found that there were moderate discrepancies in anxiety levels, with in-person students exhibiting higher levels of anxiety. Furthermore, negative correlations were observed between oral performance and foreign language anxiety, primarily in the context of foreign language learning situations and processes. The outcomes of this study augment the existing body of research on foreign language anxiety in diverse learning environments and hold potential to enrich future pedagogical practices.