BackgroundOnline learning and teaching were globally popularized due to the impact of Covid‐19. The pandemic has made both synchronous and asynchronous online learning inevitable in regions privileged with the technological affordance.AimsThis study was designed to examine and compare the effectiveness of both learning modes through the Community of Inquiry framework.Materials & MethodsComparative analyses on a sample of N = 170 undergraduate students who took both synchronous and asynchronous online courses in Spring 2021.ResultsThe paired‐sample T‐tests results indicated a significant difference in social presence, cognitive presence and self‐evaluated performance.Discussion & ConclusionTeaching presence significantly influenced social presence and cognitive presence in both learning modes. However, under synchronous learning mode, social presence significantly impacted self‐evaluation, grades and school identification. While social presence only influenced school identification under asynchronous learning mode. Theoretical and practical implications were also included.