Language and pictures are two major representational systems, but the relation between them in early childhood is under-investigated. This study investigated the association between drawing and language in preschoolers, and examined the role of working memory and executive functions (inhibition, shifting, and updating) in the association between drawing and language. The participants were 125 preschoolers (aged 3;0–6;1). Exploratory and confirmatory factor analyses found that two factors, respectively loading language and drawing measures, were correlated, also controlling for age. Regression analyses indicated that working memory and inhibition tasks predicted language, and inhibition tasks predicted drawing, above and beyond age. Structural equation modeling supported a model, according to which indirect influence of working memory and direct influence of executive functions fully accounted for the correlation between drawing and language. This suggests that the intertwining of language and drawing development in preschoolers depends on the development of domain-general components of the cognitive system.