Purpose: Although school-age children learn most new word meanings from surrounding context, the joint roles of language ability and executive function (EF) in the word learning process remain unclear. This study examined children's acquisition of word meanings from context in relation to oral language ability and three EF skills (working memory, inhibitory control, and cognitive flexibility). Method: Typically developing school-age children completed measures of language and EF, then read and listened to short stories containing unfamiliar target words. A multiple-choice pretest-posttest measure assessed children's target word knowledge gains. Results: Regression analyses showed that language and cognitive flexibility were both related to word knowledge gains; each skill assumed greater importance among children with relative weakness in the other skill. Conclusion: Language ability and cognitive flexibility may each play a direct role in contextual word learning among school-age children, with children naturally relying on one skill if the other is weaker.