This study investigated the relationship between the Iranian EFL learners’ performance in the reading subsection of TOEFL and their awareness of metacognitive reading strategies and test-taking strategies. Sixty-two students majoring in teaching English and English literature were randomly selected from Ferdowsi University of Mashhad, Hakim Sabzevari University, and Imam Reza International University. To collect data, the following instruments were employed: Nelson English proficiency test (form 300D), the reading subsection of a TOEFL form 0401, the metacognitive awareness of reading strategy inventory (MARSI), and a test-taking strategy questionnaire. The data were analyzed using descriptive statistics, correlation, and independent sample t test utilizing SPSS (version 19). The results showed a negative correlation between test-taking strategies and the students’ scores in the reading subsection of TOEFL (r =-0. 13), and a low correlation between MARSI and the reading subsection of TOEFL (r = 0. 17). However, the correlation between Nelson proficiency test and the students’ scores in the reading subsection of TOEFL was significant (r = 0. 74, p < 0. 001). Moreover, the results showed that in test-taking strategies questionnaire, the students employed Reasoning subskill, Strategies for Vocabulary subskill, Guessing subskill, and Personal Knowledge and Experience subskill in order. Also, the results revealed that from the MARSI subskills, the students had used Problem-solving strategies first, and secondly, Global and Support strategies. The role of test-taking strategies is somewhat downgraded indicating that most of its subskills should not be emphasized. Conversely, awareness of metacognitive reading strategies should be considered in teaching. The suggestions and implications are discussed.