The development of English and Spanish reading and oral language skills from kindergarten to third grade was examined with a sample of 502 Spanish-speaking English language learners (ELLs) enrolled in three instructional programs. The students in the transitional bilingual and dual-language programs had significantly higher scores than the students in the English immersion program on the Spanish reading and oral language measures and significantly lower scores on the English reading comprehension and oral language measures. Multiple-group path models showed that the predictors of third grade English and Spanish reading comprehension did not differ across the three programs. Spanish phonological/decoding skill and oral language in first grade mediated the association between Spanish phonological/decoding skill and oral language in kindergarten and third grade Spanish reading comprehension. English phonological/decoding, Spanish phonological/decoding skill, and English oral language in first grade mediated the link between Spanish phonological/decoding skill in kindergarten and third grade English reading comprehension.