Although lexical decision remains one of the most extensively studied cognitive tasks, very little is known about its relationship to broader linguistic performance such as reading ability. In a correlational study, several aspects of lateralized lexical decision performance were related to vocabulary and reading comprehension measures, as assessed using the Nelson-Denny Reading Test. This lateralized lexical decision task has been previously shown to demonstrate (1) independent contributions from both hemispheres, as well as (2) interhemispheric interactions during word recognition. Lexical decision performance showed strong relationships with both reading measures. Specifically, vocabulary performance correlated significantly with left visual field (LVF) word accuracy and LVF non-word latency, both measures of right hemisphere performance. There were also significant, though somewhat weaker, correlations between reading comprehension and RVF non-word latency. Lexicality priming, a measure of interhemispheric communication during lexical decision, was also correlated with reading comprehension. These results suggest that hemispheric interaction during word recognition is common, and that lexical processing contribution from the right hemisphere, something commonly taken as minor and inconsequential, can lead to significant performance benefits and to individual differences in reading.