Recently, simulation-based learning (SBL) has become an inseparable part of teacher-education. This case study examined the learning processes that preservice teachers experienced while participating in SBL. The main goal of the study was to identify the aspects of peer learning inherent to SBL that are beneficial for the teacher-education process, to facilitate the development of effective teacher-education modules. Current research questions focus on SBL experiences and insights, as seen from the perspective of the preservice teachers regarding peer-learning patterns. Preservice teachers identified the following four benefits related to the implementation of SBL in the context of peer learning: Readiness to provide and accept feedback; The observers' reflective analysis of the experience; Expanding one's view of the situation; Collegial bonding. These findings are relevant to teachers around the world and provide evidence of the importance of SBL in the framework of teacher education and especially in the context of peer learning.