Over the past two decades, self-regulation has captured the attention of researchers in language learning. It is an acknowledged fact that self-regulated learners' performance surpasses those who are not self-regulated. In an educational context, assessment is one of the major factors which increase or decrease the level of self-regulation. The present study explores the role of three types of assessment, namely self-assessment (SA), peer-assessment (PA), and teacher-assessment (TA), in English language learning of Pakistani learners and to find out the attitude of the learners toward the most suitable type of assessment for the development of self-regulated learning (SRL) features among learners. Following a quantitative approach, the data for the study were collected from a sample of 99 bachelor-level students through pre and post-tests and questionnaires. The data were analyzed through SPSS version 16.0. The authors found that the PA proved to be the most suitable for English language learning. The learners' perception also showed that they found the PA quite useful in fostering self-regulation. This study brings more enlightenment to the effective use of assessment techniques to improve learners' SRL abilities.