Alcohol outcome expectancies (AOE), or beliefs about the effects of drinking, are believed to moderate the association between social anxiety and hazardous alcohol use. AOE can also vary depending on the drinking context. The current study tested whether AOE specific to three drinking contexts would moderate the association between social anxiety and hazardous use among undergraduates (N = 377; 70% women; Mage = 21.0). Results showed that AOE about convivial contexts (e.g., at a party), but not AOE about coping (e.g., when sad) or intimate (e.g., on a date) contexts, moderated the association between social anxiety and hazardous drinking. Specifically, social anxiety and hazardous drinking were related positively for those endorsing higher positive or lower negative AOE about convivial settings, and associated negatively for those reporting low positive or high negative AOE in these contexts. Thus, socially anxious young adults who endorse high positive or low negative AOE about convivial drinking contexts could be at elevated risk for alcohol-related problems.