Tinnitus is an abnormal perception of sound that cannot be attributed to an external source. In most cases, tinnitus is caused by insults to the peripheral auditory system. Tinnitus also displays strong links with negative emotional states such as anxiety. However, the relations of tinnitus with anxiety are still debated. Of particular interest is the question whether the occurrence of tinnitus is, at least partially, consecutive to high level of anxiety, or whether tinnitus is anxiogenic. This review aims to summarize recent knowledge on the fascinating topic of interactions of tinnitus with anxiety. Furthermore, using tinnitus as an example, this review tries to nurture the more inclusive debate on the relation between perception, emotion and memory in human pathologies.