BackgroundTimely and accurate feedback is a crucial component for effective undergraduate learning. However, with the expansion of university enrolment in China, student numbers have increased rapidly and, in traditional university classrooms, it is often difficult for the teacher – as the only evaluator – to accommodate students’ diverse needs and learning styles, and provide timely learning feedback. In our teaching practice research, we combined mutual peer evaluation with cooperative learning, and proposed a peer learning and assessment model (PLAM) that encouraged students to cooperate and compete, leading to greater efficiency in giving feedback. The ultimate goal was to improve students’ learning ability. This study aimed to investigate the effect and influencing factors of PLAM in an undergraduate course entitled ‘Medicinal Chemistry of Natural Products’.MethodsWe surveyed the entire pharmacy student body (95 students). Each student was required to provide feedback to the other members within the same study group and students in other groups. We evaluated the effectiveness of PLAM in five aspects: basic information, learning attitude, participation, interpersonal relationship, and organizational approach. The questionnaire was administered online using the Star survey platform. Data were exported to Excel and meta-analysis was performed using SPSS.ResultsPLAM effectively increased feedback efficiency, enhancing students’ learning interest and ability. An ordered logistic regression analysis model was used to analyze the factors influencing the PLAM learning effect. Three factors – learning attitude, participation, and interpersonal relationship – explained up to 71.3% of the model.ConclusionsThe PLAM adopted in this research is an effective learning and evaluation model that can promote collaborative learning and increase learning enthusiasm. It is more suitable for knowledge expansion learning and comprehensive practical learning where teachers cannot be present for the entire process. Students should be encouraged to establish appropriate learning attitudes and a positive group atmosphere. PLAM can positively impact college curriculum learning and could be extended to other teaching domains.Supplementary InformationThe online version contains supplementary material available at 10.1186/s12909-023-04352-8.