Two studies explored the relation between listening comprehension of text and listening comprehension of sentences in preschoolers aged 4 to 5 years, 11 months. The first study analyzed this relationship taking into account the role of lower level components, namely, word knowledge and verbal working memory, as possible mediators. These components specifically accounted for listening text comprehension, whereas sentence comprehension did not. Given that sentences forming a text are not processed in isolation but in context, the second study explored the role of the ability to use linguistic context, a higher level component, in listening comprehension of text and sentences. Listening sentence comprehension was facilitated by the use of context, which accounted for individual differences in listening text comprehension. Overall, results showed that listening text comprehension is related to lower level as well as higher level components, whereas listening sentence comprehension does not play a specific role.