Gifted students are often characterized as those who demonstrate distinctive characteristics, both intellectually and emotionally. Thus, they may have learning needs that are distinctive from non-gifted ones. Failure to meet the needs of these learners may lead to their low motivation, low attention, and consequently low achievement in their learning processes. Although gifted education in Vietnam has got a relatively long history, gifted English as a Foreign Language (EFL) remained somewhat under-researched and poorly understood. Studies that focus on learning needs of gifted EFL students in Vietnam are almost undetectable. This study thus aimed at discovering learners’ and teachers’ perceptions of gifted EFL students’ learning needs. Data were collected through questionnaires and interviews with 137 gifted EFL students and five English teachers working with these students. Findings from the study suggest that: (1) among 7 key components of English language, oral skills including speaking, listening and pronunciation were perceived as most important, meanwhile output skills namely speaking and writing appeared to be most challenging; (2) teaching activities that focus on oral skills and self-directed learning (i.e., presentation, debate, discussion, self-study, projects, etc.) are considered most effective and engaging to this group of students; (3) students’ commitment to study was generally high but motivation for advanced English lessons and National Talent Competitions, was not as high as expected. These findings contributed to the limited literature on gifted students, particularly gifted EFL students in Vietnamese context, highlighted the need to reconsider the goals and missions of gifted education in Vietnam, and had important implications for curriculum and instructional design for this unique group of learners.