Event-related potentials (ERPs) and behavioral accuracy judgments were recorded in a letter name rhyming paradigm (e.g., A-J versus A-B) with 6- to 8-year-old beginning readers and adults. A typical N450 rhyming effect was evident for both children and adults, with few differences in mean amplitude or peak latency between groups. The size and timing of the electrophysiological effect were not correlated with standardized measures of phonological or reading ability, but accuracy in the ERP task was. Single letters elicit a similar ERP rhyming effect in young children and adults, suggesting the early establishment of neurocognitive systems used in the rhyme task.