The aim of this research was to develop a new questionnaire for exploring the reading beliefs of undergraduate students, because the only currently available instrument has conceptual and methodological limitations. The paper describes the process of developing the instrument and presents a range of psychometric data obtained from a sample of 558 Spanish undergraduates who were in the first or final year of a degree programme in psychology, language and literature or engineering. The results provide evidence of the psychometric quality of items and reveal a dual structure of two and six factors, both obtained through exploratory and/or confirmatory factor analyses. Adequate reliability based on internal consistency of the factors was also demonstrated. As a measure of criterion validity, differences in reading beliefs by gender, academic year and knowledge area were also explored. The findings support the psychometric adequacy of this new instrument developed through an exploratory piece of research. Overall, the process of constructing the instrument and the results from this study provide a framework for research and intervention, in addition to presenting a tool that both researchers and teaching staff could use in the context of reading and reading comprehension.