Visual-verbal paired-associate learning (PAL) is thought to be related to reading acquisition and, more specifically, to word reading skills. To date, the uniqueness and strength of this relationship has remained unclear because most studies have been conducted in opaque orthographies such as English, and few studies have controlled for all of the strongest cognitive and linguistic predictors of reading acquisition. Critically, PAL is a complex task involving different components, and there is still no consensus on which is more involved, crossmodal associative learning or verbal learning, although the latter has received much support in the literature. The first aim of this study was to test the unique contribution of PAL in French, which has an intermediate level of orthographic transparency compared to other languages. The second aim of this study was to disentangle the mechanisms that account for this relationship. A battery of reading and reading-related tests as well as a visual-verbal PAL task were administered to 227 French children in first and second grade. The results showed that PAL makes a unique contribution to word reading in French, but not to nonword reading scores, over and above the strongest language predictors of reading: phonological awareness, rapid automatic naming, short-term phonological memory, vocabulary, and age. Our data do not support the putative involvement of the crossmodal associative learning mechanism. We therefore suggest that verbal learning explains the entire contribution of PAL.