The emotional sphere is significant for the mental and social development of preschool children. We consider the main causes of children’s fears; the role of parents in their appearance and consolidation. We analyze the features of actual fears in preschool children with mental retardation and normative development. The empirical study (the ascertaining stage) was performed on a sample of 31 subjects (6–7 years old) using diagnostic tools such as: technique of “Choosing the Most Terrible Picture” (T. V. Lavrentiev), test “Fears in Houses” (modified by M.A. Panfilova), projective method “My Family”. Qualitative and quantitative analysis of the results allowed to identify 6 groups of dominant fears among preschool children: medical fears (fear of doctors, injections, blood, getting sick, getting infected), night fears (fear of being alone, terrible dreams, darkness), fear of natural disasters (fear of storms, hurricanes, floods, earthquakes, war, fire), specific fears (fear of darkness, height, depth, confined space, pain), social fears (fear of being late, parents, punishment, large areas), fear for their own lives and the lives of parents.