This study investigated student perceived shared-metacognition--self-regulation and co-regulation--as explained by three teaching presence sub-elements--"Instructional Design, Direct Instruction, and Facilitation"--in an online case-based course. 113 online graduate students enrolled in an advanced instructional design course participated in the study. Data were collected through the Community of Inquiry survey and a shared metacognition questionnaire survey. The findings revealed that students perceived "Direct Instruction" as a significant predictor of their shared-metacognition (self-regulation and co-regulation) in online case-based courses. The findings highlight the importance of teaching presence for "Direct Instruction" to increase self and co-regulation for maximizing the quality of online case-based instruction. The findings of this study will be helpful for researchers and practitioners who design and teach online courses to promote metacognition. [For the full proceedings, see ED636095.]