Extinction training creates a second inhibitory memory trace and effectively reduces conditioned responding. However, acute stress inhibits the retrieval of this extinction memory trace. It is not known whether this also applies to other forms of associative learning such as instrumental counterconditioning, where previously learned associations are reversed and paired with the opposite valence. Therefore, the current preregistered study investigates whether stress decreases the retrieval of instrumental counterconditioning memories with aversive and appetitive consequences. Fifty-two healthy men were randomly assigned to either a stress or control group and took part in a two-day instrumental learning paradigm. During a first phase, participants learned that pressing specific buttons in response to the presentation of four neutral stimuli either leads to gaining or losing money. During a second phase, two stimuli reversed their contingencies (counterconditioning). One day later, participants were exposed to acute stress or a control condition prior to the same task, which no longer included feedback about gains or losses. Stressed participants showed more approach behavior towards appetitive and less avoidance behavior towards aversive stimuli as compared to non-stressed participants. Our findings indicate that stress effects on memory retrieval differ depending on the associative learning approach in men. These differences might be related to stress effects on decision making and different motivational systems involved.