The main aim of the present study was to empirically test the emergence of the Simple View of Reading (SVR) in a transparent orthography, and specifically in Greek. To do so, we examined whether the constituent components of the SVR could be identified in young, Greek-speaking children even before the beginning of formal reading instruction. Our investigation focused on Kindergarten children and examined the dissociation of decoding-related and language comprehension skills using Exploratory Factor Analysis. All children were administered a battery of decoding-related and comprehension measures. The analysis demonstrated that comprehension and decoding-related measures loaded as distinct factors in young Greek-speaking children and that the two factors were weakly correlated. The present findings provide important support for the validity of the SVR framework as a model of reading skills acquisition in a language with a transparent orthography, such as Greek.