Research on Self-regulated Learning (SRL) increasingly emphasises contextual factors, highlighting the contingent, dynamic and temporal nature of self-regulation. However, the experiential aspect of how learners actually perceive and engage with SRL still remains relatively unexplored. While SRL emphasises active learner involvement in learning, phenomenology explores subjective experiences and meaning construction. The present work aims to establish a connection between SRL and phenomenology by developing a theoretical foundation and identifying a suitable methodology. To achieve this, we propose methodological refinements and illustrate them through examples of future studies. After briefly introducing SRL and phenomenology, we discuss an ongoing paradigmatic shift towards more holistic, context-sensitive approaches in SRL research; we give examples of existing studies employing phenomenological methods, and comment on the methodological approaches they most commonly use. Then, we make the case for employing methodology inspired by the recent enactive phenomenological approach, as well as contemporary descriptive phenomenology, providing several examples of possible future studies. We conclude by addressing the methodological challenges and ethical considerations inherent in these approaches, ultimately illustrating how this integration opens up new ways to understand learning processes.