This study examined the possible effect of bilingualism on creativity in nonmathematical and mathematical problem solving among bilingual and monolingual preschoolers. Two groups of children (M age = 71.9 months, SD = 3.6) from the same monolingual kindergartens participated in this study: 15 Russian/Hebrew balanced bilinguals and 16 native Hebrew-speaking monolinguals. All children were administered the Working Memory Test, the Verbal (Semantic) Fluency Test, the Pictorial Multiple Solution Task on general creativity, and the Creating Equal Number Task on mathematical creativity. The results showed that balanced bilingualism has a positive effect on the development of creativity in problem solving, but that the effect differs according to the domain: verbal, general, or mathematical creativity.