The purpose of this study was to explore the co-construction of an action research (AR) experience between a teacher educator and pre-service teachers (PSTs). Participants were six PSTs and a teacher educator who supervised their school placement. The teacher educator introduced the PSTs to, and facilitated them through, the AR process while creating an environment in which participation, co-construction, and shared investment were key elements across the group. A critical friend assisted the teacher educator to facilitate the PSTs' experience of AR. Data included (i) audio-taped weekly discussions between the teacher educator and PSTs, (ii) the teacher educator's field notes, (iii) audio-recorded weekly discussions between the teacher educator and critical friend, and (iv) semi-structured post-interviews with PSTs and the teacher educator. Data were analysed qualitatively using the constant comparison approach. Results indicated that the three crucial aspects of a co-constructed AR experience were: centrality of the critical friend, the teacher educator sharing her experiences of AR with PSTs, and creating of a collaborative and supportive learning environment across AR cycles. In conclusion, this study indicates that there needs to be a shift in the understanding of how best to support a shared learning space where we can discuss and encourage each other in co-constructive ways.