The present study evaluated which components within the simple view of reading model better predicted reading comprehension in a sample of bilingual language-minority children exposed to Italian, a highly transparent language, as a second language. The sample included 260 typically developing bilingual children who were attending either the first 2 years (n = 95) or the last 3 years (n = 165) of primary school and who had Italian as an instructional language. Children were administered a comprehensive battery for the assessment of decoding skills, listening comprehension, and reading comprehension latent variables. Results showed that, in both groups, listening comprehension was the most powerful predictor of reading comprehension, followed, only for younger children, by reading accuracy. Reading speed was not a significant predictor. These results confirmed the primary role of listening comprehension in predicting reading comprehension in bilinguals and added important evidence regarding the role of reading accuracy as a predictor of reading comprehension.