The aim of this study was to investigate verbal and nonverbal cognitive deficits in Italian students with developmental dyslexia. The performances of 32 dyslexic students, 64 age-matched typically reading controls, and 64 reading age-matched controls were compared on tests of lexical knowledge, phonological awareness, rapid automatized naming, verbal short-term memory, visual search, verbal-visual recall, and visuospatial attention. Considering the phonological domain, dyslexic students were significantly impaired in all the tasks. A significant deficit was also observed in visuospatial attention and verbal-visual recall tasks. Additionally, the pattern of cognitive deficits exhibited by the students with dyslexia was analyzed. Results showed that the largest group of students with dyslexia (40.6%) exhibited multiple deficits, including both the phonological and the nonverbal domains. These findings are in accordance with the hypothesis that developmental dyslexia is a multifactorial deficit; theoretical and practical issues are discussed.