Recent studies have shown that decentring protects against social anxiety, but no research to date has explored the way it interacts with cognitive risk factors for social anxiety. The present study aimed to examine decentring as a moderator of the association of anticipatory and post-event processing with social anxiety. An unselected student sample (N = 444) completed questionnaires assessing anticipatory/post-event processing, decentring, and social anxiety. The data were analysed with structural equation modelling and the latent moderated structural equations (LMS) method. Results supported the moderating role of decentring in the relationship of anticipatory processing and social anxiety, but did not find evidence of moderation for the association of post-event processing and social anxiety, after accounting for the role of anticipatory processing. Limitations and clinical implications for the protective effects of decentring on social anxiety are discussed.