Lexical-semantic knowledge is a core language component that undergoes prolonged development throughout childhood and is therefore highly amenable to developmental studies. Most previous lexical-semantic functional MRI (fMRI) studies have been limited to single-word or word-pair tasks, outside a sentence context. Our objective was to investigate the development of lexical-semantic language networks in typically developing children using a more ecological sentence-embedded semantic task that permitted performance monitoring while minimizing head movement by avoiding overt speech. Sixteen adults and 23 children completed two fMRI runs of an auditory lexical-semantic decision task with a button-press response, using reverse speech as control condition. Children and adults showed similar activation in bilateral temporal and left inferior frontal regions. Greater activation in adults than in children was seen in left inferior parietal, premotor, and inferior frontal regions, and in bilateral supplementary motor area (SMA). Specifically for semantically incongruous sentences, adults also showed greater activation than children in left inferior frontal cortex, possibly related to enhanced top-down control. Age-dependent activation increases in motor-related regions were shown to be unrelated to overt motor responses, but could be associated with covert speech accompanying semantic decision. Unlike previous studies, age-dependent differences were not detected in posterior sensory cortices (such as extrastriate cortex), nor in middle temporal gyrus.