Shyness is highly related to internalizing problems. However, not all shy children develop serious internalizing problems (IP). The aim of the current study was to identify the endogenous factors that might contribute to the resilience process from a self-regulation perspective. Participants included 73 children (33 boys; 40girls) who visited the lab at 6 and 9 years of age. Shyness, attentional control (AC), inhibitory control (IC), frontal electroencephalogram (EEG) asymmetry were measured at both 6 and 9 years using age appropriate questionnaires and tasks. Results indicated that age 6 shyness did not directly predict age 9 IP; instead it indirectly predicted IP through age 9 shyness. Neither AC, IC, frontal EEG asymmetry, nor the stability of frontal EEG asymmetry moderated the association between age 6 shyness and age 9 IP. However, there was a positive concurrent association between shyness and IP at 9 years. In addition, AC and IC moderated the shyness-IP association at age 9. Shyness was significantly associated with IP only when children had low AC or IC, but not when children had high AC or IC.