Vocabulary acquisition is one of the largest and most important tasks in language classes. New technologies, such as computers, have helped a lot in this way. The importance of the issue led the researchers to do the present study which concerns the comparison of contextualized vocabulary learning on paper and through Computer Assisted Language Learning (CALL). To this end, 52 Pre-university EFL learners were randomly assigned in two groups: a paper-based group (PB ) and a computer-based (CB) group each with 26 learners. The PB group received PB contextualization of vocabulary items, while the CB group received CB contextualization of the vocabulary items thorough PowerPoint (PP) software. One pretest, posttest, along with an immediate and a delayed posttest were given to the learners. Paired samples t-test of pretest and posttest and independent samples t-test of the delayed and immediate posttest were executed by SPSS software. The results revealed that computer-based contextualization had more effects on vocabulary learning of Iranian EFL learners than paper-based contextualization of the words.