The purpose of this study was to determine the relationship between metacognitive awareness and problem solving skills of physical education teacher candidates.  A sample of hundred and ninety two physical education teacher candidates completed problem solving and metacognitive awareness inventory. In order to examine the relationship between problem solving skills and metacognitive awareness level structural equation modeling and canonical correlation analysis were used. Results of the structural equation modeling showed that suggested model provided a good fit to the data (χ² / df = 3.91, SRMR = 0.077, CFI = 0.92, IFI = 0.92, NNFI = 0.90, Prob =  -1.55* Metacog., R² = 0.20, t = -5.03 (p<0.05)).  There was a significant canonical correlation and a significant cross canonical correlation found between the factors of the model (1^st Function: U1 - V1/Canonical Correlation Coefficient = 0.515, R² = 0.26;   2^nd Function: U2 - V2/ Canonical Correlation Coefficient = 0.404, R²= 0.16 (p<0.01)). Results indicated that metacognitive awareness levels of the physical education teacher candidates have an effect on their problem solving skills. Key Words: Metacognitive Awareness; Problem Solving Skill; Physical Education Teacher Candidates; Structural Equation Modeling; Canonical Correlation Analysis