The paper deals with the investigation of theoretical and practical issues on the organization and management of EFL peer learning. Lack of understanding of the mechanism of peer learning as a system of relationships and interactions hinders creating the conditions for effective education. The study aims to identify and systematize the key components of interactive learning of the English language, substantiate their significance in modeling peer learning. The scientific approach to the analysis of the concept "interactive learning" is applied. The systematic approach to the synthesis of the components of interactive peer learning is used as a basis for educational modeling. As a result, the components of interactive learning were identified and systematized in the form of peer learning principles, including student activity; educational material selected in compliance with student's knowledge; cyclical stages of a learning process; teacher's preparatory work; classroom peer tutoring. The principles were integrated into a dynamic model of peer learning whose driving factors are learning objectives, content, participants, design and management, control and assessment. The model ensures maximum student involvement in a learning process, increases motivation, develops language proficiency, manages activities and leads to efficient results.