In contemporary feedback research, effective feedback does not depend on merely the characteristics of feedback but also on learners' ability to understand, manage and use the information. Known as feedback literacy, it refers to learners' social cognitive capacity, affective capacity and disposition prior to substantial engagement with feedback. In addition, feedback literacy is said to be developed in social learning settings. Despite the importance of the learner feedback literacy construct, little is known about its quantitative conceptualization or the specific psychological variables underpinning it. The purpose of this paper is to propose and validate a bifactor model of learner feedback literacy consisting of (1) conceptions of feedback, (2) feedback trust and (3) self-efficacy. Drawing from data on 923 learners from a polytechnic in Singapore that practices the social constructivist learning approach, results from Rasch and bifactor modelling analyses revealed that the learner feedback literacy model is psychometrically sound and robust with the potential to be developed further. Limitations and future research directions in the use of this model are discussed in the paper.