This study investigated the relation between pretense, counterfactual reasoning (CFR), and executive functions (EFs) based on the ‘Unifying Theory of Imaginative Processes’ proposed by Weisberg & Gopnik (2013). An observational study tested a hypothetical model of the structural relation between pretense and CFR and whether a second-order factor explains their shared associations. 189 typically developing children (Mean age = 58 months, SD = 4 months; males = 101, females = 88) were recruited from Cambridgeshire, UK and completed pretend-play, CFR, EFs, and language tasks. Pretense and CFR constructs were significantly correlated (r = 0.57, p = .001) and the hypothetical model was a good fit of the data. The empirical evidence provides initial support to the unifying theory of imaginative processes.