The thrust of the study was to determine the extent to which sources of efficacy predicted and explained early childhood preservice teachers’ self-efficacy in Ghana. The study employed a survey design that selected 164 regular final year student teachers pursuing a Bachelor of Education degree in Early Childhood Education in two public universities in Ghana. The teacher self-efficacy scale and the sources of efficacy scale consisting of 60 items were used to gather data. Data was analysed using means and standard multiple regression. The study revealed that student teachers have high self- efficacy. Their self-efficacy beliefs is significantly predicted by the overall sources of efficacy. Specifically, mastery experiences significantly predicted preservice teachers self efficacy. When the effect of the various sources of self efficacy of the preservice teachers’ self-efficacy was explored separately, it came to light that vicarious experiences predicted preservice early childhood educators’ self-efficacy in engaging learners and using instructional strategies while enactive mastery experiences predicted their self-efficacy in managing classrooms and involving parents in their children’s education. It was recommended among others that pre internship, internship and post internship seminars should be well structured for students to have enough practice sessions and observations; there should be regular supervision from lecturers and post teaching conferences to provide appropriate feedback to build student teachers’ confidence and self-efficacy.