The dual route cascaded (DRC) model proposes that the mapping from orthography to phonology occurs through two pathways: the sublexical and lexical routes. Cross-linguistic studies have found that Chinese character reading relies more on the lexical pathway, whereas English word reading relies more on the sublexical pathway. However, it remains unclear how these two pathways collaborate in the L2 word reading of Chinese–English bilinguals and whether their reading strategies are influenced by L2 proficiency. In the current study, 72 Chinese–English bilinguals with varying levels of L2 proficiency were tested. They were asked to name English words that varied in frequency and spelling-sound consistency. The results showed that participants with lower L2 proficiency were more sensitive to frequency, indicating a greater reliance on lexical processing in L2 word reading. In contrast, participants with higher L2 proficiency were more sensitive to consistency, suggesting a greater reliance on sublexical processing. These findings suggest that L2 word reading strategies vary as a function of L2 proficiency. As L2 proficiency increases, Chinese–English bilinguals’ reading strategies may shift from primarily relying on lexical to sublexical processing. This study provides evidence from L2 readers for the DRC model, helping to broaden the explanatory scope of the model.