Children who have knowledge of two languages may show better phonological awareness than their monolingual peers (e.g. Bruck & Genesee, 1995). It remains unclear how much bilingual experience is needed for such advantages to appear, and whether differences in language or cognitive skills alter the relation between bilingualism and phonological awareness. These questions were investigated in this cross-sectional study. Participants (n = 294; 4–7 year-olds, in the first three grades of primary school) were Dutch-speaking pupils attending mainstream monolingual Dutch primary schools or early-English schools providing English lessons from grade 1, and simultaneous Dutch-English bilinguals. We investigated phonological awareness (rhyming, phoneme blending, onset phoneme identification, and phoneme deletion) and its relation to age, Dutch vocabulary, English vocabulary, working memory and short-term memory, and the balance between Dutch and English vocabulary. Small significant (α