In two studies children's performance on tasks requiring the ascription of beliefs and desires was investigated in relation to their executive function. Study 1 (n = 80) showed that 3- and 4-year-olds were more proficient at ascribing subjective, mutually incompatible desires and desire-dependent emotions to two persons than they were at ascribing analogous subjective false beliefs. Replicating previous findings, executive function was correlated with false-belief ascription. However, executive function was also correlated with performance on tasks requiring subjective desire understanding. Study 2 (n = 54) replicated these results, and showed that the correlations hold even if age, vocabulary and working memory are controlled for. The results are discussed with regard to the role of executive function and conceptual change in theory of mind development.