This study explored unique constructs of fantasy orientation and whether there are developmental benefits for fantasy-oriented children. By age 3, children begin developing executive functions, with some children exhibiting high fantasy orientation in their cognitions and behaviors. Preschoolers ("n" = 106) completed fantasy orientation measures and executive function tasks, including parent and teacher questionnaires. Principal Component Analysis revealed four specific constructs within fantasy orientation (FO). Relations were examined between children's FO constructs and executive functions to determine if developmental benefits exist with being fantasy-oriented. Hierarchical linear regressions suggested that certain FO constructs are uniquely related to specific executive functions, such that there are potentially specific developmental benefits to being a fantasy-oriented child (i.e., inhibition and attention shift positively related to fantastical cognitions).