This study identified the cognitive processes that underlie the individual differences in early mathematical performance in elementary school children. Taking into account the Baddeley framework multicomponent model, the inhibitory processes, working memory, phonological awareness, and naming speed are considered to be related to early math learning. To examine this relationship, we compared the performance of a total of 424 typically developing middle-class children, aged between 4 and 7 years in a battery of cognitive and early numeric tests: The Utrecht Early Numeracy Test, the Rapid Automatized Naming Test, Spanish version of the Stroop task, the Numeracy Interference Test, Digit Span test, and Phonological Knowledge Test. The mean age of the participants was 72.21 months (sd = 14.8), and 48.6% were male and 51.4% were female. The results demonstrated that children performing worst on central executive, phonological processing, and inhibitory processes showed lower results in early mathematical tasks measured by The Utrecht Early Numeracy Test. Results supported the notion that the executive system is an important predictor of children's mathematical performance.