Self-efficacy is among the most critical factors in the learning achievements of English as foreign language (EFL) students. They have to believe in their capabilities and devote an appropriate degree of effort to accomplish several language learning tasks. Although self-efficacy is no longer seen as a stable psychological construct in EFL students' academic life, almost all research studies on its investigation have had a linear one-shot cause-effect approach towards this construct. As a result, this case study tries to revisit self-efficacy by ecologically investigating 6 Iranian EFL students' self-efficacy utilizing Engestr & ouml;m's (1987, 1999, 2001) activity theory. The data were collected through motometers, classroom observations, and semi-structured interviews during five classroom sessions. The qualitative content analysis of the collected data through the MAXQDA software led to the identification of several intra/interpersonal, contextual, and societal factors influential on the students' self-efficacy at ontogenetic and cultural-historical levels. The data were also explored in the light of the microgenetic level, object, and tools that exerted influence on the students' self-efficacy. It was proved that EFL students' self-efficacy changes from time to time, task to task, and in interaction with the surrounding environment and people. The study provides some recommendations to help EFL students improve their self-efficacy. Accordingly, various implications for EFL teachers, practitioners, and students can be drawn.