The article considers an innovative approach to teaching foreign languages in higher learning institutions, which is prompted by the forthcoming structural reform of higher education in Russia. The essence of this innovative method is peer learning. Integrating this method into foreign language classes has a number of advantages. First of all, it gives opportunities for students to share their experience and knowledge with each other without any concerns over the age difference. Then, it allows them to prove their language skills. Finally, it provides a sense of self-esteem: our data indicate that students feel more confident and self-aware when they demonstrate their expertise participating in cooperative learning tasks in a foreign language. So the primary concept of peer learning is that changing their knowledge students learn from each other. The article provides effective teaching techniques of implementing individual and group work through peer learning strategy and describes some cooperative learning situations which can improve students’ proficiency in English.