Different studies have showed poor reading performance in the deaf compared to the hearing population. This has overshadowed the fact that a minority of deaf children learns to read successfully and reaches levels similar to their hearing peers. We analyze whether deaf people deploy the same cognitive and learning processes in reading as their hearing peers. For this purpose, we analyzed the relation between phonological processing, speechreading, vocabulary, reading speed, and accuracy with reading efficiency in a sample of deaf people and two control groups respectively matched on chronological age and reading level. The results indicate that deaf people's level of reading efficiency is lower than hearing people's of the same age, but that deafness status in itself is not a good predictor of reading level. The results do not support the idea that deaf people's reading is the result of different processes from the hearing population.