Developing key competencies like communication, empathy, and critical decision-making is crucial in psychiatric nursing education to prepare students for complex clinical environments. This study explored nursing students’ experiences in using objective structured video examination (OSVE) and role-play to develop essential psychiatric nursing competencies. A qualitative approach was used, gathering data through focus group discussions and individual interviews with students in a psychiatric nursing course. Various themes emerged, highlighting the advantages and limitations of each teaching method. OSVE offered structured scenarios that improved clinical reasoning and self-assessment, while role-play encouraged real-time interactions and adaptive thinking. Students found that OSVE helped them connect theoretical knowledge to practical applications by allowing them to observe and analyze model behaviors in different psychiatric situations. On the other hand, role-play promoted deeper engagement through realistic patient interactions, boosting confidence and emotional readiness. However, students also faced challenges like performance anxiety during role-play and the need for guidance in OSVE sessions. This study emphasizes the complementary nature of OSVE and role-play in enhancing psychiatric nursing competencies and suggests integrating both methods for comprehensive skill development. The findings offer valuable insights for educators to enhance teaching strategies in psychiatric nursing education, aligning with evidence-based practices to meet student learning needs.