Like other types of assessment subscribing to edumetrics as a reaction against traditional psychometrics paradigm, self-assessment and peerassessment have enjoyed much popularity among various types of alternative assessment. Additionally, alternative assessments, especially self- and peer-assessments have been the focal point of departure as far as L2 writing has been concerned. Furthermore, self-regulation as a burgeoning area of research in L2 learning refers to the degree to which language learners can regulate aspects of their thinking, motivation and behavior during learning. Given the significance of both assessment and self-regulated learning in ELT, the present paper investigated the effect of the implementation of self-assessment and peer-assessment in a writing course on the self-regulated learning of a sample of Iranian EFL students. In so doing, sixty three English major Iranian students who were the students of three intact classes at Islamic Azad University participated in this study. One of the classes was regarded as the self-assessment group, the other group was assigned to peer-assessment group and the third class served as the control group of the study. The ANCOVA analyses of the self-regulation scale scores for the control and experimental groups revealed that both self-assessment and peer-assessment practices had a positive impact on the self-regulated learning of the participants. The results will have theoretical and pedagogical implications for Iranian English language education.