The purpose of this research was to investigate the current practices of assessing L2 reading skills of Saudi EFL elementary stage learners. The research also attempted to offer more effective assessment tools of L2 reading skills than the current ones. For this purpose, a sample of (30) elementary stage EFL classes were observed, and (15) teachers of these classes were interviewed. The collected data were recorded, organized, coded, analyzed, and interpreted qualitatively. The findings revealed that most EFL learners and their instructors practice learning/ teaching L2 reading skills driven by exams, focus more on bottom-up approach, and committed to the assigned reading materials ignoring extracurricular ones. Almost all the observations and interviewees' responses indicated that the assessment measures are affected by the poor learning/ teaching practices of the L2 reading skills. It was implied that in order to improve the assessment tools of the L2 reading skills, the teaching practices must be improved first.