This study explored two new pedagogical conceptions--project-based learning (PBL) and self-regulated learning (SRL), to enhance effective English teaching and learning in Macao, and to prepare EFL learners for life-long learning. PBL makes English instruction engaging and SRL empowers learners to take ownership of their learning process. The combination of these two methodologies can facilitate students to develop into independent and efficient English learners. The study, guided by Zimmerman's cyclical phase model of SRL and English and Kitsantas' PBL/SRL model, was action research which aimed to investigate whether PBL could positively influence the development of intermediate EFL learners' SRL ability at the post-secondary level in Macao. Research instruments included questionnaires, interviews, students' reflective notes and teacher's field notes. Both qualitative and quantitative findings indicated improvement in the students' SRL ability, reflected in three aspects--motivation, metacognition, and behaviors. The students' motivational beliefs were significantly strengthened, and more self-regulated behaviors were generated. Though the use of metacognitive strategies did not showcase as significant enhancement as the former elements through the study, the experimental group made progress in using some specific strategies, such as evaluating learning outcomes and making study plans. The summary of the study is that PBL was beneficial to the development of SRL. This research endeavor not only contributes to the existing body of knowledge but also serves as a catalyst for educators to advocate policy reforms, fostering the design of learner-centered, flexible, and coherent post-secondary EFL curricula.