Effective second language vocabulary acquisition is particularly important for English as a foreign language (EFL) learners who frequently acquire impoverished lexicons despite years of formal study. This paper comprehensively reviews and critiques second language (L2) reading vocabulary research and proposes that EFL teachers and administrators adopt a systematic framework in order to speed up lexical development. This framework incorporates two approaches: 1) promoting explicit lexical instruction and learning strategies; and 2) encouraging the use of implicit lexical instruction and learning strategies. The three most crucial explicit lexical instruction and learning strategies are acquiring decontextualized lexis, using dictionaries and inferring from context. Implicit lexical instruction and learning can take many forms including the use of integrated task sets and narrow reading; however, this framework emphasizes extensive reading, which is arguably the primary way that EFL learners can build their reading vocabulary to an advanced level. The principal notion underlying this framework is that the most effective and efficient lexical development will occur in multifaceted curriculums that achieve a pedagogically sound balance between explicit and implicit activities for L2 learners at all levels of their development.