Critical incidents, which may appear insignificant at first, could pave the way for effective learning in English language learning environments. This study aimed to explore the effects of sharing critical incidents on learning experiences and self-efficacy beliefs of EFL learners attending the preparatory year program at the tertiary level. The study adopted a phenomenological qualitative research method combined with the critical incident technique and included three groups of university students, totaling 15 students. Through structured meetings held for six weeks, participating students discussed the critical incidents in their classes during the week and shared their experiences and knowledge gained in the same learning environment. The students, who came together in regular intervals weekly, were interviewed to talk about the potential effects of this sharing process on their learning experiences. Data were collected through students' voice recordings saved each week and focus group interviews conducted by the researcher every three weeks. The students' discussions were shaped by prompts that aimed to elicit critical incidents from their perspectives. Data were analyzed using content analysis methods. The results of the study revealed the positive impacts of the critical incident sharing process. Specifically, such a process was found to increase students' awareness of their learning, enable learning from and with peers, and increase their self-efficacy. Students enrolled in English preparatory programs could benefit from critical incident sharing with the guidance of their instructors to benefit from these positive impacts. This study has shown that utilizing critical incidents offers opportunities to enhance learning and increase self-efficacy about learning English as a foreign language.