Purpose: We examined grade-level differences in 1st- through 3rd-grade students' performance on an experimenter-developed affix meaning task (AMT) and determined whether AMT performance explained unique variance in word-level reading and reading comprehension, beyond other known contributors to reading development. Method: Forty students at each grade level completed an assessment battery that included measures of phonological awareness, receptive vocabulary, word-level reading, reading comprehension, and affix meaning knowledge. Results: On the AMT, 1st-grade students were significantly less accurate than 2nd- and 3rd-grade students; there was no significant difference in performance between the 2nd- and 3rd-grade students. Regression analyses revealed that the AMT accounted for 8% unique variance of students' performance on word-level reading measures and 6% unique variance of students' performance on the reading comprehension measure, after age, phonological awareness, and receptive vocabulary were explained. Conclusion: These results provide initial information on the development of affix meaning knowledge via an explicit measure in 1st- through 3rd-grade students and demonstrate that affix meaning knowledge uniquely contributes to the development of reading abilities above other known literacy predictors. These findings provide empirical support for how students might use morphological problem solving to read unknown multimorphemic words successfully.