Previous studies have examined the predictive significance of the level of phonemic awareness in L2 spelling, but have left the role of phonemic awareness growth relatively unexplored. The aims of the present study were to examine (1) the growth trajectory of phonemic awareness in the kindergarten years; and (2) the unique contribution of initial levels and growth of phonemic awareness in L2 spelling, with other important cognitive-linguistic predictors statistically controlled. One hundred and forty-one Chinese ESL children were followed for one year during which their phonemic awareness was assessed four times, at three-monthly intervals. Spelling was assessed at Time 5, which was 12 months after the beginning of the study. Non-linear growth of phonemic awareness was observed. With age, non-verbal intelligence, letter name knowledge, vocabulary knowledge, syntactic awareness, word reading statistically controlled, both the initial levels and growth of phonemic awareness predicted L2 spelling at T5. Theoretical and practical implications are discussed.