Research about the characteristics of effective teachers in general is abundantly available in the literature. However, there has been a dearth of linguistic studies conducted to examine the perception of students about the unique qualities of an effective English teacher in a foreign language context. This study examined the qualities of an effective English teacher as perceived by 72 BA in English and 42 MA in Teaching English as Foreign Language (TEFL) students at Bahir Dar University, Ethiopia using an interview and a questionnaire developed from CELTAS Syllabus and Assessment Guideline. The questionnaire data were analyzed using descriptive and inferential statistics, whereas the interview data were thematically analyzed. While the results revealed both congruent perceptions and differing concerns, the majority of the participants valued the linguistic quality of English teacher the most; they also held a belief that an effective English language teacher should have a multifariously instilled quality with the balanced combinations of the three categories. The data also showed a statistically significant difference between MA and BA students regarding their perceptions about the best qualities of an effective English teacher. Drawn from the results of this study, implications for teacher education policy and future research were presented.