The purpose of this paper is to consider the importance of intervening with early literacy instruction at the preschool level. Research has found phonological awareness skills in preschool to be one of the most robust predictors of early reading success in a child's first few years of formal schooling. The efficacy of phonological awareness instruction at the preschool level is discussed, as well as the research implications for best practice in teaching it. Shared book reading plays an important role in facilitating oral language development in young children. Two types of shared book-reading techniques (dialogic and non-dialogic) are reviewed, and their effect on oral language outcomes is examined. A plethora of research has examined phonological awareness intervention in preschool and kindergarten, but much less research is available on shared book-reading interventions in these settings. It is concluded that both phonological awareness and shared book reading are necessary components of a preschool early literacy intervention, as they are important prerequisite skills for decoding, spelling and reading comprehension.