Recent developments in technology have introduced new tools, such as virtual reality, into the learning process. Although virtual reality appears to be a promising technology for education and has been adopted by a few schools worldwide, we still do not know students' and educators' opinions, preferences, and challenges with it, particularly in relation to preschool education. Therefore, this study: (a) analyzes the preferences of 175 children aged 3 to 6 years regarding traditional teaching compared to enhanced teaching with virtual reality and (b) captures educators' perspectives on virtual reality technology. This evaluation of virtual reality took place in 12 Greek preschool classrooms. A combination of quantitative and qualitative methods were used for data collection. Specifically, regarding the qualitative data collection, the study included semi-structured interviews with the participating educators, oriented by 2 axes: (a) preschoolers' motivation and engagement in virtual reality activities, and (b) virtual reality technology prospects and difficulties as an educational tool in a real class. Regarding the quantitative data collection, specially designed questionnaires were used. Bootstrapping was utilized with 1000 samples to strengthen the statistical analysis. The analysis of the students' responses indicated a statistically significant difference in preference in favor of virtual reality enhanced teaching compared to a traditional method. Statistically significant differences were also observed regarding gender. Furthermore, based on the educators' answers and comments, difficulties were encountered initially but eventually, virtual reality was regarded as an effective approach for educational purposes. However, concerns arose among educators as to whether this technology could adequately promote preschoolers' cooperative skills.