The present study investigates the acquisition of polysemous verb-particle constructions by Moroccan EFL university learners. It aims at analyzing the extent to which frequency, semantic transparency and proficiency affect the acquisition of the various meaning senses of phrasal verbs. The study also aims at determining which linguistic variable is more powerful at predicting the acquisition of polysemous verb-particle constructions: frequency or semantic transparency. The sample of the study consisted of 110 EFL students, divided into two groups: 55 BA students, and 55 MA students from two and three Moroccan faculties, respectively. The data were elicited using two tasks: a form-recall task, and a meaning-recall task. The selection of the target items in the two tasks was based on a corpus analysis of the COCA (Contemporary Corpus of American English), and the semantic judgement of native speakers. The data were analyzed using a series of statistical measures, namely paired-samples t-test and independent-samples t-test. The findings show that the advanced group statistically outperformed the intermediate group in their overall knowledge of the polysemous phrasal verbs. All participants had a wider knowledge of high frequency phrasal verbs' meaning senses, as well as semantically transparent phrasal verbs' meaning senses. The findings also revealed that frequency overrides semantic transparency in predicting the acquisition of verb-particle constructions, as participants demonstrated a wider knowledge of frequent, yet opaque, phrasal verbs' meaning senses, than of semantically transparent, yet infrequent, phrasal verbs' meaning senses, and as the effect size of frequency was found to be the largest. Low-frequency opaque phrasal verbs' meaning senses seemed to form a difficult category for all participants, regardless of their proficiency level.