Collaborative learning has placed an emphasis on co-constructing knowledge by sharing and negotiating meaning for problem-solving activities, and this cannot be accomplished without governing the self-regulatory processes of students. This study employed a Web-based tool, Google Docs, to determine the effects of Web-based collaboration on vocabulary improvements among learners of English as a foreign language (EFL). The work performed in this study represents a further step toward identifying the factors that influence self-regulated vocabulary strategy use and perceptions of Web-based collaboration (SRvsWBC). In total, 210 undergraduate students participated in this study and undertook the designed tasks, such as vocabulary pre-/posttests and a self-report questionnaire survey of SRvsWBC. The findings of the study suggest that collaboration using a Web-based tool affects knowledge development, and provide insights into the integrated spectrum of self-regulation, L2/FL learning, and Web-based technology that will be useful for pedagogy.