Despite the significant research that has been conducted regarding effortful control and children’s adjustment, there is limited evidence of the potential for hot/cool dimensionality related to social competence in preschool-aged children. Seventy-four children (30 males and 44 females; mean age = 35, 24 months) and 22 female teachers participated in the research. Children were assessed using a battery of tasks to measure hot and cool inhibitory control tasks, and they were evaluated by their teachers for socio-emotional functioning. Results show that high performance on Hot Tasks (not on Cool Tasks) predicts social competence, while low performance on these tasks predicts aggressive behavior, demonstrating that hot and cool inhibitory control processes predict different outcomes. The implications of these findings for future theoretical and empirical development of the research in this field are discussed.