The extent to which Theory of Mind impairments are a trait associated with schizotypy is unclear. To date, findings have been mixed. We compared two groups of psychometrically identified schizotypes, namely, those characterized by positive schizotypy (perceptual aberrations and magical ideation; n=36) and those characterized by negative schizotypy (social anhedonia; n=30) to a low schizotypy comparison group (n=68) in terms of their Theory of Mind performance. Theory of Mind was assessed in two ways: a composite Hinting Task and the Reading the Mind in the Eyes Test. The groups were also compared in terms of their self-reported levels of referential thinking. Our results indicate that individuals characterized by positive schizotypy show Theory of Mind deficits, as measured by the Hinting Task. The three groups did not differ in terms of the Eyes Test. Referential thinking was significantly associated with the Eyes Test but not the Hinting Task. Overall these findings suggest that different aspects of schizotypy are associated differentially with Theory of Mind deficits. The results also provide further rationale for the inclusion of multiple tasks when attempting to study multifaceted constructs such as Theory of Mind.