Learning management system has gained importance in the post-COVID-19 higher education era. However, just installing an LMS does not automatically guarantee that it is accepted by the students. Based on the Technology Acceptance Model, the current study explores the influence of Technology Anxiety on students’ intention to adopt an LMS. The adoption-related beliefs, perceived ease of use, and perceived usefulness were mediators in the model, while perceived importance of technology is a moderator in the framework. Data were collected through an online survey from third- and final-year undergraduate students enrolled in Business and Economics departments of a large public-sector university in Punjab, Pakistan. After screening, 361 usable responses were analyzed using PLS SEM (SmartPLS 4). The measurement model was fully established through reliability and validity. The structural model results provided support for all of the proposed hypotheses. Technology anxiety emerged as a significant psychological inhibitor, influencing both directly on intention and indirectly by shaping TAM beliefs. Importantly, perceived technology importance buffered the adverse role of anxiety, indicating that students who view technology as valuable for learning and future-oriented outcomes are less likely to let anxiety translate into negative adoption beliefs. This study integrates emotions with cognitive beliefs and intention towards technology. Practical implications for university administrators include designing usability-focused LMS interfaces, strengthening student support mechanisms, and cultivating technology importance beliefs to reduce anxiety towards the new system. Limitations and future research recommendations are also provided.