Peer corrective feedback (PCF) refers to the dynamic interactions between language learners in which they provide each other with feedback on their language use. Studies have shown that, similar to corrective feedback from teachers or native speakers, PCF can benefit second language development by raising learners’ awareness of gaps in their interlanguage (Sippel & Jackson, 2015). However, PCF is distinct from other forms of corrective feedback and uniquely contributes to second language acquisition and pedagogy. This review first defines PCF and establishes its theoretical basis by discussing how it facilitates language development from sociocultural, cognitive, and interactionist perspectives. The second section reviews evidence demonstrating PCF’s effectiveness in improving second language skills. Finally, comparative studies on PCF and other corrective feedback methods are discussed to highlight PCF’s unique benefits and vulnerabilities.