This study investigated the relationship between reading comprehension development of 389 adolescents in their dominant language (Language 1 [L1], Dutch) and a foreign language (Language 2 [L2], English). In each consecutive year from Grades 8 through 10, a number of measurements were taken. Students' reading comprehension, their linguistic knowledge (vocabulary and grammar knowledge) and processing efficiency (speed of word recognition and sentence comprehension) in both languages, and their metacognitive knowledge about reading were assessed. The relative strengths of the effects of these components of reading were analyzed to distinguish among 3 hypotheses about the relationship between L1 and L2 reading comprehension: the transfer hypothesis, the threshold hypothesis, and the processing efficiency hypothesis. The transfer hypothesis predicts a strong relationship between L1 and L2 reading comprehension and a strong effect of metacognitive knowledge on L2 reading comprehension, whereas the threshold and processing efficiency hypotheses predict a more important role of language-specific knowledge and processing skills. Results support the transfer hypothesis, although language-specific knowledge and fluency also contribute to L2 reading performance.