While the influence of cognitive and linguistic capacities and the perceptual features of objects on word-learning skills in people with typical development (TD) are well understood, there is little evidence concerning these mechanisms in people with Down syndrome (DS). Using an eye-tracking task, this study examined the ability of 29 children with DS (mean mental age: 3.44 years) to identify familiar words, fast-map pseudowords to novel objects, retain word-object mappings, and extend these mappings to new objects of similar shape. It also contrasted their word-learning abilities to those of 26 two-to-five-year-olds with TD and examined how cognitive and linguistic skills and perceptual information influenced those abilities. Children with DS were found to have similar identification, fast-mapping, and extension skills as their peers with TD, but retained fewer word-object mappings. Greater retention skills are related to mental age, oral vocabulary, and greater perceptual differences between the target and surrounding objects.