High levels of test anxiety can be damaging for academic achievement, wellbeing, and mental health. It is important, therefore, to consider those psychological attributes that may offer protection against the development of test anxiety and its negative consequences, thereby contributing to a potential positive future life trajectory. Academic buoyancy, the ability to respond effectively to academic pressures and setbacks, is one such attribute that offers protection from high test anxiety. We begin by defining test anxiety and a brief review of the literature to consider the harmful nature of test anxiety. This is followed by a definition of academic buoyancy and brief review of the literature to consider the beneficial character of academic buoyancy. Next, we describe the Self-Regulatory Executive Function model of test anxiety and consider the mechanisms and processes by which academic buoyancy exerts beneficial effects on test anxiety. The paper concludes with a consideration of critical issues for the conceptualisation and measurement of academic buoyancy, arising from the synergies, connections, and relations, theorised with test anxiety, and how these may inform future studies.