This study aims at exploring the meanings constructed by preservice teachers of literacy about theory-practice dichotomy and investigating the preservice teacher-mentor teacher tension during the internship period. Qualitative data were collected by preservice teachers as researchers in inquiry through field notes, reflective journals, observation reports and open-ended survey questions. Findings are discussed with respect to theory-practice dichotomy and constructed meanings are obtained. High self-efficacy beliefs of preservice teachers of literacy, mentor teacher indifference and supervisor-mentor teacher dichotomy seem to have a lot to do with the preservice teacher-mentor teacher tension.