This study investigated how self-regulation contributes to the development of reading competence in an at-risk sample of 157 children born to adolescent mothers. It was hypothesized that reading readiness at age 5 would shape self-regulation at age 10, which in turn would influence reading competence at age 14. Based on structural equation modeling, it was concluded that self-regulation partially mediated the relationship between early reading skills and later reading competence. These findings suggest the importance of socioemotional and cognitive self-regulation in the development of reading competence; implications for classroom practice are discussed. (Contains 2 tables and 1 figure.)