Although a significant body of research has centered on teachers’ self-efficacy, teachers’ burnout, and their interplay, there is a paucity of research investigating change in these variables over time. The purpose of the current study was to examine the patterns of change in self-efficacy and emotional exhaustion of a sample of Iranian pre-service teachers of English during and after a reflective teaching practicum. 123 pre-service Iranian EFL teachers recruited for the purpose of the current study attended a two-month reflective teaching practicum. The pre-service teachers responded to a series of self-efficacy and emotional exhaustion scales during both their two-month practicum period and over a course of four month after the practicum. The main purpose of the study was to investigate whether professional knowledge gained during the reflective practicum can predict changes in the two variables over time. The results of the latent curve modelling analysis revealed a significant increase of emotional exhaustion and a smaller increase of teacher self-efficacy during and after the reflective practicum. Overall, the findings of this empirical study highlights the role of reflective practicum in affecting pre-service teachers’ self-efficacy and emotional exhaustion. Finally, a discussion of the practical and theoretical implications ensue.