Entrepreneurs face a number of challenges when developing entrepreneurial opportunities, as they navigate through situations filled with uncertainty and ambiguity (Sommer et al., 2009). Entrepreneurial learning, defined as the process through which experiences are transformed into knowledge during the process of developing entrepreneurial opportunities (Politis, 2005), is seen as crucial to making entrepreneurs more apt to respond to changing circumstances (Holcomb et al., 2009). Although the literature has acknowledged that entrepreneurs learn from experience, there is so far limited understanding of the processes through which entrepreneurs learn and the sources of this learning. Taking an opportunity-based view on entrepreneurship, this paper explores the interplays between entrepreneurial opportunity and the learning processes of the entrepreneur. Opportunities are examined as emerging through continuous shaping and development by contextual and social influences, where entrepreneurs learn through interactions with others. The following research question is thus addressed: How does the development process of entrepreneurial opportunities interact with the learning processes of the entrepreneur?