Research on children's emotional competence has received considerable attention in the last decade, including the role of language. Language competence (LC) and emotional competence (EC) comprise multiple components. These components and their specific interrelations have not been studied sufficiently. In our study, we examined relations between multiple components of LC and EC in a sample of 210 school-age children. Five measures represented LC: receptive vocabulary, verbal fluency, literacy, narrative structure, and the narrative use of evaluative devices. Four measures represented EC: expressive emotion vocabulary, declarative emotion knowledge, awareness of mixed emotions, and facial emotion recognition. Results showed strong positive correlations between LC and EC ranging between r = .12 and r = .45. In particular, receptive vocabulary and literacy were closely related to emotion knowledge and awareness of mixed emotions. A confirmatory factor analysis revealed that there is a common general ability factor for LC and EC. We discuss why receptive vocabulary and literacy might be so strongly related to emotion knowledge in school-age children. Our findings have implications for developmental psychologists, educational research, and speech-language pathologists.