French/English bilingual children (N=40) in French language schools participated in an 8-month longitudinal study of the relation between phonological processing skills and reading in French and English. Participants were administered measures of phonological awareness, working memory, naming speed, and reading in both languages. The results of the concurrent analyses show that phonological awareness skills in both French and English were uniquely predictive of reading performance in both languages after accounting for the influences of cognitive ability, reading ability, working memory, and naming speed. These findings support the hypothesis that phonological awareness is strongly related to beginning word reading skill in an alphabetic orthography. The results of the longitudinal analyses also suggest that orthographic depth influences phonological factors related to reading.