There is growing theoretical and empirical consensus for a role of awareness of suprasegmental phonology, also known as prosody, or the rhythmic elements of speech, in reading comprehension. Here we explore a potential mechanism by which this relation functions: awareness of how punctuation reflects prosody, for instance appreciating that a period or comma often marks a pause. Children who are more aware of prosody might be better able to use punctuation as a guide to what text should sound like, which could enable understanding text meaning. We tested 151 English-speaking students in Grades 3-5 to explore whether the relation between awareness of prosody and reading comprehension is mediated by awareness of how punctuation reflects prosody. After controlling for age, punctuation knowledge, word reading, phonological awareness, vocabulary, and nonverbal ability, there were direct relations between awareness of prosody and reading comprehension, as well as indirect effects via awareness of how punctuation reflects prosody. These results suggest a role for punctuation in applying awareness of prosody to reading comprehension; we interpret this as a potential mechanism by which awareness of prosody supports reading comprehension, a finding that can both refine current models of reading comprehension and inspire the design of effective instruction.