Social cognitive theory has supported the view that perfectionism can be a hindrance to creativity, and also considers self-esteem to have a moderating effect on their relationship. Therefore, the purpose of this study was to examine the moderating effect of self-esteem on the relationship between perfectionism and creativity in college dancers. Two hundred and sixty-six college dance students completed the Multidimensional Perfectionism Scale of Frost, the Rosenberg Self-Esteem Scale, and the New Test of Creative Thinking. The moderating effect was tested with a four-step moderated hierarchical regression analysis. Bivariate analyses showed that creative thinking was, as a dependent variable, significantly related to multidimensional perfectionism and self-esteem in college dancers. Additionally, the hierarchical regression analysis revealed that self-esteem moderated the association between multidimensional perfectionism and creative thinking after controlling for selected socio-demographic characteristics. It can thus be concluded that self-esteem might regulate the positive effect of multidimensional perfectionism on creative thinking. Professional dance instructors who are working with perfectionist dancers should, therefore, seek ways to improve dancers’ self-esteem as one of the strategies to improve their creative thinking.