Purpose: This study examined the unique and shared variance that nonword repetition and vocabulary knowledge contribute to children's ability to learn new words. Multiple measures of word learning were used to assess recall and recognition of phonological and semantic information. Method: Fifty children, with a mean age of 8 years (range 5-12 years), completed experimental assessments of word learning and norm-referenced assessments of receptive and expressive vocabulary knowledge and nonword repetition skills. Hierarchical multiple regression analyses examined the variance in word learning that was explained by vocabulary knowledge and nonword repetition after controlling for chronological age. Results: Together with chronological age, nonword repetition and vocabulary knowledge explained up to 44% of the variance in children's word learning. Nonword repetition was the stronger predictor of phonological recall, phonological recognition, and semantic recognition, whereas vocabulary knowledge was the stronger predictor of verbal semantic recall. Conclusions: These findings extend the results of past studies indicating that both nonword repetition skill and existing vocabulary knowledge are important for new word learning, but the relative influence of each predictor depends on the way word learning is measured. Suggestions for further research involving typically developing children and children with language or reading impairments are discussed.