An efficient auditory system contributes to cognitive and psychosocial development. A right ear advantage in hearing thresholds (HT) has been described in adults and atypical patterns of left/right hearing threshold asymmetry (HTA) have been described for psychiatric and neurodevelopmental conditions. Previous genome-wide association studies (GWAS) on HT have mainly been conducted in elderly participants whose hearing is more likely to be affected by environmental effects. We analysed HT and HTA in a children population cohort (ALSPAC, n = 6,743, 7.6 years). Better hearing was associated with more advanced cognitive skills and higher socioeconomic status (SES). Mean HTA was negative (−0.28 dB), suggesting a left ear advantage in children but mainly driven by females (−0.48 dB in females v -0.09 dB in males). We performed the first GWAS on HT in children and the very first GWAS on HTA (n = 5,344). Single marker trait association analysis did not yield significant hits. Polygenic risk score (PRS) analysis revealed associations of PRS for schizophrenia with HT, which remained significant after controlling for SES and cognitive skills, and of PRS for autism spectrum disorders (ASD) with HTA. Gene-based analysis for HTA reached genome-wide significance for MCM5, which is implicated in axon morphogenesis. This analysis also highlighted other genes associated with contralateral axon crossing. Some of these genes have previously been reported for ASD. These results further support the hypothesis that pathways distinguishing the left/right axis of the brain (i.e. commissural crossing) contribute to both different types of asymmetries (i.e. HTA) and neurodevelopmental disorders.