The aim of this study was to examine the effect of instruction of self-regulatory strategies on the L2 reading comprehension of Iranian EFL learners on the one hand and improve the students' self-regulated learning on the other hand. In this research, the experimental group (N=35) received instruction on self-regulatory strategies whereas the control group (N=35) only received traditional instruction. At first, the participants completed the reading section of an IELTS test, in order to assess their homogeneity in regards to their reading proficiency. They also completed a reading test based on the course book prior to and after the course. The participants also completed the LASSI prior to and after the completion of the course. Paired sample t-tests were run to see whether a significant difference existed between the pre-tests and post-test among the participants in the experimental and the control groups regarding L2 reading and self-regulated learning. The results indicated the students in both groups significantly improved in their L2 reading comprehension, this improvement being much more significant in the experimental group. As for self-regulated learning, only students in the experimental group showed significant improvement on the LASSI indicating the positive impact of the instruction of self-regulatory strategies.