Research has suggested that caffeine enhances aerobic performance. The evidence for high-intensity, short-term exercise, particularly resistance exercise is mixed and has not fully examined the psychological changes that occur after this mode of exercise with caffeine ingestion. This study examined the effect of caffeine (5 mg·kg−1) vs. placebo on bench press exercise to failure and the mood state response pre to postexercise. Thirteen moderately trained men (22.7 ± 6.0 years) completed 2 laboratory visits, after determination of 1 repetition maximum (1RM) on the bench press, where they performed bench press repetitions to failure at a load of 60% 1RM. Mood state was assessed 60 minutes pre and immediately post-substance ingestion. Borg's rating of perceived exertion (RPE) and peak blood lactate (PBla) were assessed after each test, and peak heart rate (PHR) was determined using heart rate telemetry. Participants completed significantly more repetitions to failure (p = 0.031) and lifted significantly greater weight (p = 0.027) in the caffeine condition compared to the placebo condition. The PHR (p = 0.0001) and PBla (p = 0.002) were higher after caffeine ingestion. The RPE was not different across conditions (p = 0.082). Mood state scores for vigor were greater (p = 0.001) and fatigue scores lower (p = 0.04) in the presence of caffeine. Fatigue scores were greater postexercise (p = 0.001) compared to scores pre exercise across conditions. Caffeine ingestion enhances performance in short-term, resistance exercise to failure and may favorably change the mood state response to exercise compared to a placebo.