There has been increased research concerning preservice teachers’ reflective practices in English teaching practicum programs. However, research on the contribution of critical reflection on ELT practicum in the EFL context remains limited. This phenomenological case study seeks to explore the contribution of critical reflection on ELT practicum to developing preservice teachers’ pedagogical competence and fostering transformative learning in the post-pandemic time. Nine preservice teachers purposively selected were assigned to write weekly reflective journals during a two-month practicum. Their critical reflection was identified using reflection descriptors. They were then called to undergo focus group interviews. The data were subsequently analyzed for the thematic patterns. Results showed the contribution of critical reflection to preservice teachers’ pedagogical competence development in becoming more prepared for classroom and student management, building motivation for pedagogical methods development, and training and creating habits of mind for continuous growth. Meanwhile, reevaluating beliefs and past experiences to establish authentic relationships, reflective practice to make teaching innovations, and individual experiences to enhance teaching skills have shaped preservice teachers’ transformative learning. The research findings imply how (re)designing teaching practicum programs for multifaceted reflective practices in certain teaching modes in teacher education programs evokes professional concerns for preparing preservice teachers’ future teaching careers.