ABSTRACT Background Developments in technology have rapidly advanced the variety, features, and applications of virtual labs (VL) in teaching. However, it is debated whether VL can be used instead of physical labs (PL) because more is needed to address the tactile and sensory senses and to gain motor skills that PL has. While many studies have compared VL and PL, few have examined the impact of these laboratories using contemporary learning methods. Purpose This study aims to comparatively examine the effects of guided inquiry-based learning of electrical circuits and Ohm’s law in VL and PL on the conceptual understanding, science process skills, problem-solving, and views of pre-service science teachers (PST). Sample The study was carried out with 26 PSTs studying in the first year of a science teaching program at a state university in Türkiye. Design and Methods The study is in a true experimental design with the pretest-posttest control group. The matched pairs of PSTs were randomly assigned to the VL (n = 13) and PL (n = 13). Three-tier simple electrical circuits concept test, science process skill test in multiple formats, problem-solving inventory, and open-ended questionnaire were used for completing the data collection process. Results Results revealed that guided inquiry-based VL and PL were equally effective in increasing PSTs’ conceptual understanding. While VL is more effective in completing knowledge gaps, PL is more effective in developing science process skills. Neither has a significant effect on problem-solving. Conclusions Both VL and PL have advantages and disadvantages in terms of the types of learning outcomes. Consequently, guided inquiry-based VL and PL are recommended to use in science teaching as complements to each other.