Over the years, globalization has benefitted education in many aspects. This study aims to understand the students' perceptions and expectations of virtual faculty exchange programs conducted in higher learning institutions from the Philippines and Indonesia. This study utilized descriptive research to describe the undergraduate students' perceptions on the instructional aspect of the virtual faculty exchange program and their expectations to provide a basis for improving the quality of the activity in the future. This study was participated by seventy-seven (77) undergraduate students taking up computing courses from the Philippines and Indonesia during the second semester of Academic Year 2020-2021. Results revealed that the student's perception of the quality of the instructions received from both universities was "Very Good" (WM = 4.41), indicating that students were excited and looked forward to learning many things in the virtual faculty exchange program. Moreover, the expectations of the students showed that student-respondents had expectations relating to improving themselves, learning new things from foreign instructors, cultural and international experience, the personality of the instructors, and self-expression. In conclusion, the findings of this study provide a basis for improving the quality of delivering instruction for the virtual faculty exchange program.