The aim of the present study was to test environmental and cognitive variables as possible cross-domain predictors of early literacy and numeracy skills. One hundred forty-eight preschool children (mean age = 64.36 months ± 3.33) were enrolled in the study. The battery included a home literacy and home numeracy questionnaire, measures and phonological and visuo-spatial working memory, tasks tapping response inhibition, and predictors of literacy (vocabulary, phonological awareness, letter knowledge) and numeracy (magnitude comparison, number knowledge) skills. The structural equation model indicated that verbal working memory and, to a lesser extent, inhibition represented cross-domain predictors, whereas home numeracy activities and visuo-spatial working memory explained additional variance only for early numeracy skills. Implications for parents and educators are discussed.