Questions still exist about the interplay between foundational literacy components and budding cognitive structures that are thought to influence advanced reading abilities. Understanding interactions between executive functions (EFs) and specific early reading skills could contribute to our understanding of later reading achievement. The present study used multilevel modeling to examine whether EFs (i.e., working memory, cognitive flexibility, and inhibition) moderate the relation between various early reading skills in kindergarten and second grade reading achievement in a sample of 18,174 participants from the ECLS: K-2011 database. Our findings suggested that early teacher-rated reading skills are related to second grade reading abilities. Both working memory and inhibition were important moderators for reading independently in kindergarten and are associated with later reading achievement in second grade. Research implications and the importance of understanding the intersection of cognitive processes and learning in early childhood are discussed.