Several studies have addressed the subject of the preferences of L2 student-writers for receiving teacher feedback (FB) on macro level features (feedback related to meaning) and micro level features (feedback related to surface level issues); however, none of these have investigated their preferences when it comes to giving and receiving peer feedback (PF). In the present study, two forms of the peer feedback technique were introduced in two consecutive phases: in phase one the students practised providing both macro and micro peer feedback on five essays, while in phase two they provided only macro feedback to their fellow students while the teacher supplied the micro feedback. The participants were 41 EFL undergraduate Saudi students undertaking an English programme at a Saudi higher tertiary institution. The study adopted a one-group design for the data collection. A mixed method approach was employed using pre-, mid- and post-questionnaires, mid- and post-interviews, and also recording verbal protocol sessions while the participants provided peer feedback to one another. The findings of the study suggested that the participants had a preference for giving and receiving peer feedback on both levels. However, it also appeared that their responses may have been affected by the way they had been taught in the past.