The present research has aimed to study the effect of project-based learning on the academic performance of Farhangian University physics student teachers in electricity and magnetism. A quasi-experimental research, along with pretest-posttest control group design, was used. The statistical population consisted of student teachers at Farhangian University in the academic year 2018-2019. The statistical sample of the research included students of four classes majoring in teaching physics at the Allameh Amini and Fatimah Zahra Campuses in Tabriz. One class from each campus was selected through convenience sampling and randomly put into test groups and control groups (a total of 132 individuals). The measurement tool was a researcher-made test used in order to assess the academic performance of physics student teachers. The academic performance of both groups was assessed prior to intervention. During the term, the test group were taught electricity and magnetism by means of the project-based learning method for 16 sessions (one session per week), while the control group were taught in the traditional fashion. After the intervention, the academic performance of both groups was assessed. The data obtained were analyzed using one-way covariance analysis. The results indicated a significant difference between the test group and the control group in academic performance (P < 0.001). The results obtained from the research pointed out the effectiveness of project-based learning upon the academic performance of physics student teachers.