Early math skills are determined by higher cognitive processes that are particularly important for acquiring and developing skills during a child's early education. Such processes could be a critical target for identifying students at risk for math learning difficulties. Few studies have considered the use of a structural equation method to rationalize these relations. Participating in this study were 207 preschool students ages 59 to 72 months, 108 boys and 99 girls. Performance with respect to early math skills, early literacy, general intelligence, working memory, and short-term memory was assessed. A structural equation model explaining 64.3% of the variance in early math skills was applied. Early literacy exhibited the highest statistical significance (β = 0.443, p < 0.05), followed by intelligence (β = 0.286, p < 0.05), working memory (β = 0.220, p < 0.05), and short-term memory (β = 0.213, p < 0.05). Correlations between the independent variables were also significant (p < 0.05). According to the results, cognitive variables should be included in remedial intervention programs.