Children with a rich home literacy environment generally show better reading comprehension. For children in the higher grades of primary school, this relation is thought to be indirect. We propose a model in which this relation ran via children’s higher order language and cognitive skills (i.e., expressive verbal ability and mentalizing ability) and via print exposure. In our correlational study with 117 children ages 8–11, we found both a direct relation between children’s home literacy environment and reading comprehension and 2 indirect relations: via children’s print exposure and via mentalizing abilities. There was no significant indirect relation via expressive verbal abilities. Our findings imply that enhancing children’s mentalizing abilities and encouraging them to read books might contribute to their reading comprehension. In addition, parental involvement in children’s reading activities can contribute to their reading performance, both directly and indirectly, even in this age group.