This research was designed to establish the importance of phonological awareness and print awareness in learning to read Spanish. A sample of 136 preliterate Spanish children (70 boys and 66 girls) whose ages ranged from 5.1 to 6.6 years (average age 5.6 years) participated in the study. The results, using path analysis, from this longitudinal study support the existence of a relationship between phonological awareness and reading. Moreover, the findings of this study reveal the importance of syllabic awareness, at least in Spanish, in the development of other levels of phonological awareness and in its early relation with reading. The results also confirm the existence of a relationship between print awareness and reading comprehension.