Literature underlines the social stigma frequently connected to children with SLD associated with vulnerability to social exclusion and lower socio-emotional competencies. Consequently, they may internalise this biased perspective, affecting their sense of self and behaviour in social contexts. The present study aims to explore socio-emotional functioning in children with SLD and investigate its relationship with cognitive functioning and Theory of Mind. The participants include 75 children with SLD, 26 with LA, and 100 non-clinical children (M = 10.1, SD = 1.10). Participants were assessed in socio-emotional skills (Roberts-2 test), cognitive functioning (WISC-IV), and ToM (RMET). The SLD sample shows deficits in elaborating, facing, and resolving interpersonal problems. Only working memory performance is linked with interpersonal elaboration, while verbal and ToM are not. In conclusion, children with SLD are vulnerable to emotional and behavioural problems and show poorer socio-emotional skills. Working memory has a key role in promoting these competencies.