The study is based on the use of a flexible learning framework to help students improve information processes underlying strategy instruction in EFL listening. By exploiting the online videotext self-dictation-generation (video-SDG) learning activity implemented on the YouTube caption manager platform, the learning cycle was emphasized to promote metacognitive listening development. Two theories were used to guide the online video-SDG learning activity: a student question-generation method and a metacognitive listening training model in a second language (L2). The study investigated how college students in the online video-SDG activity enhanced the use of listening strategies by developing metacognitive listening skills. With emphasis on the metacognitive instructional process, students could promote their listening comprehension of advertisement videos (AVs). Forty-eight students were recruited to participate in the study. Through data collected from the online learning platform, questionnaires, a focus-group interview, and pre- and post- achievement tests, the results revealed that the online video-SDG learning activity could effectively engage students in reflecting upon their perceptions of specific problems countered, listening strategy usages, and strategic knowledge exploited in the metacognitive instructional process. The importance of employing cost-effective online video-SGD learning activities is worthy of consideration in developing students' metacognitive listening knowledge for enhancing EFL listening strategy instruction.