As the use of paper-based portfolios and, more recently, ePortfolios began to attract unprecedent significance in many educational learning contexts, many researchers in the field of second and foreign language learning also begun to look more closely into their effects from diverse aspects. Nevertheless, a small number, if any, have addressed the issue from teachers and students' points of view in a comparative frame. This issue is even more noticeable in the Middle East, where portfolio learning has lately been incorporated in tertiary level studies. Hence, the present study compares students and teachers’ perception of the portfolio component of the English Foundation Program at Sultan Qaboos University in Oman. Seventy eight students and nine teachers participated in the study, where students expressed their ideas through a questionnaire, the teachers were interviewed to see how they perceive the portfolio element of the course. Using a mixed method for data collection and analysis, several chi-square tests were run to see if there is any significant difference between the perceptions of students and teachers. The results show that although the students generally agreed on the usefulness of the component, the teachers believe that it has lost its meaning.