The present study aimed at investigating the effect of peer and teacher scaffolding through a process approach in a technology-enhanced environment on vocabulary learning among high and low self-regulated learners. Participants of the study were 120 English as a Foreign Language (EFL) learners who were selected based on their scores on a sample copy of the Oxford Placement Test (OPT). The participants were divided into three groups each consisting of 40 learners. One group of the participants received peer scaffolding; the second group was exposed to teacher scaffolding via the Telegram app based on process approach principles, while the third group served as the control group. The control group received conventional vocabulary teaching in such a way that the Telegram app was not employed. The learners in the control group were also provided with vocabulary exercises in the vocabulary book (English Vocabulary in Use). Data were collected through a sample copy of OPT, a vocabulary test, and a self-regulation questionnaire. The results of a one-way ANOVA revealed that both peer and teacher scaffolding significantly affected vocabulary learning. However, there was no significant difference between peer and teacher scaffolding in terms of their effects on vocabulary learning. The results of a two-way ANOVA indicated that the main effect of treatment on vocabulary learning was significant; however, there was no statistically significant difference between the effects of the two treatment modalities on students’ vocabulary learning.