Word awareness is one of the fundamental metalinguistic skills for early development. The study explored the facets of Chinese word awareness and their measurements, as well as the relationship between word awareness and early reading ability among 4~6 years old monolingual children. Word awareness, reading comprehension, receptive vocabulary and Chinese character recognition were tested among 150 children who were 4~6 years old. Results revealed two main facets of Chinese word awareness, that is,awareness of word boundaries and concept of word. Each facet of word awareness was significantly correlated with reading comprehension, receptive vocabulary, and word recognition, indicating that word awareness is a strong predictor for early reading development.