An educational praxis that is concerned with citizen formation ought to aim at the development of critical consciousness and critical thinking, but little research has addressed the dynamics of critical consciousness in mathematical modeling activities. This study aims to characterise and understand the manifestation of critical thinking and critical mathematical consciousness in the modeling process and approach the relationship between both. That said, we conducted qualitative research with engineering students who produced mathematical models involving differential equations. We found that critical mathematical consciousness and critical thinking show variations, as there is a greater occurrence of critical thinking to the detriment of critical consciousness. We conclude this study by presenting some implications for critical mathematical consciousness.