Individuals differ greatly in their ability to learn the sounds of second languages, even when learning starts early in life. Recent research has suggested that the ability to identify the idiosyncratic acoustic variations introduced into the speech stream by the speaker might be relevant for second-language (L2) phoneme learning. However, only a positive correlation between voice recognition and phoneme learning has been shown. In the present study, we investigated whether voice processing ability predicts L2 phoneme learning. We employed a battery of behavioral cognitive ability measures to assess voice processing ability and L2 phoneme learning in 57 early bilingual adults. Confirmatory factor analyses (CFAs) and structural equation modeling (SEM) revealed that voice processing ability predicts L2 phoneme learning. Our findings align with theories of speech perception that attribute a fundamental role to the analysis of voice cues and suggest that the accurate identification of speaker-specific variation is also relevant for phoneme learning.