The present study aims to investigate the role of extensive reading in the acquisition of implicit phonological knowledge. Through extensive exposure to print, L2 learners can improve their phonological processing skills, and this could contribute to their word recognition fluency. On the basis of the Oxford Placement Test, 30 9th graders and 30 11th graders studying at a selective state high school in Istanbul were selected to participate in the study. Students in the 9th grade followed an extensive reading program for a full semester. Participants were given a lexical decision task in which they had to decide whether the string of words they were shown on a computer screen could be acceptable words in English or not. Pre- and post-test performances of the groups were compared to test if the extensive reading program contributed to their accumulation of knowledge on phonotactic constraints. The results showed that the group which read extensively differed significantly, and notwithstanding their lower proficiency, the groups' performance on the post-test did not reveal any significant difference, implying that extensive exposure to print benefited L2 learners even at the beginner levels. As this is a relatively new research perspective on extensive reading, there is need for further research.