Advancement of research in education has propelled the augmentation of theoretical and practical knowledge in learning-oriented feedback. In recent years, the channels, modes, and orientations of feedback became manifold. Copious empirical evidence from the body of literature supported the strength of feedback in enhancing learning outcomes and promoting the motivation of learners. However, compared to the popularity in implementation and fruitfulness of findings in other educational domains, the application of state-of-the-art technology-enhanced feedback in fostering students’ L2 oral abilities remain few and far between. To address the knowledge gap, the present study endeavored to investigate the effect of Danmaku-based and synchronous peer feedback on L2 oral performance and the acceptance thereof among students. Adopting a mixed-method design, the study recruited 74 (n = 74) undergraduate English majors from a Chinese university for a 16-week 2x2 experiment. The collected data were analyzed through statistical and thematic analysis respectively. The findings revealed that Danmaku-based and synchronous peer feed-back was impactful on students’ performance in L2 oral production. Furthermore, the impacts of peer feedback on subdomains of L2 competence were statistically analyzed. Regarding students’ perceptions, the incorporation of peer feedback was generally favored by participants who were satisfied and motivated in the learning process but lacked confidence in their assessment literacy. Furthermore, students expressed their agreement with the benefit of reflective learning and the subsequent enrichment in knowledge and horizon. The research was significant for its conceptual and practical contribution for follow-up researchers and educators in L2 education and learning-oriented feedback.