Abstract: Research regarding the teaching of reading for English as a Foreign Language (EFL) and English as a Second Language (ESL) is still ongoing.One of the many problems students face nowadays is not their inability to read but their lack of interest, indifference or rejection of reading. This study focused on the effect of teaching metacognitive reading strategy on reading self-efficacy of EFL Iranian students. It was hypothesized that teaching metacognitive reading strategies can have impact on reading self-efficacy of Iranian intermediate EFL students. The data was collected from Iranian students at Dorsa language institute located in Hashtgerd, Alborz province. To make the homogeneity of all the participants, the researchers administrated a language proficiency test (PET) as pre-test to seventy one EFL learners. Out of seventy one students, forty students were selected. They were divided into one experimental and one control group based on their scores. The researchers used independent sample T–Test to measure the statistical differences between the two groups. This indicated that there is no significant difference between two groups. Before receiving instruction the students completed a reading self-efficacy questionnaire. After eleven sessions of strategy-based instruction, the researchers administrated the post-tests to both experimental and control groups. Finally, the results of the analysis of the data revealed that teaching metacognitive reading strategies enhanced reading self-efficacy of the subjects.