Student engagement has attracted much research attention in higher education because of various potential benefits associated with improved engagement. Despite extensive research on student engagement in higher education, little has been written about graduate students’ engagement with supervisory feedback. This paper reports on a study on student engagement with supervisory feedback on master’s theses conducted in the context of Nepalese higher education. The study employed an exploratory sequential mixed-methods design that drew on interviews and a questionnaire-based survey involving supervisors and students from four disciplines at a comprehensive university in Nepal. Analyses of the qualitative and quantitative data revealed significant differences between supervisors’ and students’ perceptions of all types (i.e., affective, cognitive, and behavioral) of student engagement. Significant disciplinary variations were also observed in supervisors’ and students’ perceptions of negative affect, cognitive engagement, and behavioral engagement. Furthermore, disciplinary background and feedback role interacted to shape perceptions of student engagement. These findings have implications for improving student engagement with supervisory feedback. •102 master’s supervisors and 462 master’s students participated in this study.•We examined their perceptions of student engagement with supervisory feedback.•Students rated their feedback engagement markedly higher than supervisors did.•There were also significant variations in perceptions of engagement across disciplines.•Disciplinary background and feedback role jointly shaped the participants’ perceptions.