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We assessed the simple view of reading as a framework to explain grade 3 reading comprehension in two ways. We first confirmed that a structural equation model in which word recognition, listening comprehension, and reading comprehension were assessed by multiple measures to inform each latent construct provided an adequate fit to this model in grade 3. Together, these variables explained sizeable (95%) variance in reading comprehension. We next examined how well oral language and code-related skills assessed in prekindergarten (PK) predicted reading comprehension in grade 3, through the two core components of the simple view: word recognition and listening comprehension. Multiple measures of vocabulary, grammar, and discourse-level skills were used to inform a latent construct of PK oral language, and multiple measures of letter and print knowledge and phonological processing informed a latent construct of code-related skills that are precursors to word reading. The best-fitting structural equation model explained 96% of the variance in reading comprehension, with strong relations evident between prekindergarten skills and the complementary grade 3 constructs of listening comprehension and word recognition. Of note, the PK latent constructs of oral language and code-related skills were strongly related to each other, with a much weaker (and non significant) relation between the complementary grade 3 constructs of listening comprehension and word recognition. These findings demonstrate a strong influence of PK oral language skills on later reading comprehension, and provide diagnostic and instructional implications for the teaching of early reading.