The purpose of this study was twofold: (a) to explore pre-service EFL teachers’ conceptions and self-efficacy for effective online teaching and (b) to determine their instructors’ conceptions of online teaching effectiveness and their approaches to preparing them for effective online teaching. The participants were 100 MA students of TEFL and 6 teacher educators at Iran University of Science and Technology (IUST). The data collection instrument was a questionnaire with 40 principles of effective online teaching classified into 7 categories of facilitating learning, interaction, deep learning, relationship, resources, engagement, and organization followed by two open-ended questions. A semi-structured interview was also conducted to examine teacher educators’ conceptions of online teaching effectiveness. The results revealed that pre-service teachers considered themselves more self-efficacious in fostering relationship while less in maintaining organization in online English language classes. To be an effective online teacher, they also held the view that teachers need to establish a friendly atmosphere and relationship, provide useful materials, have adequate technological knowledge, give prompt feedback, and engage learners in their learning process. For teacher educators, effective online teaching was having adequate technological knowledge, providing appropriate content, establishing an online presence, successful classroom management, and having positive perceptions of online teaching.