This chapter distinguishes three types of text‐related understanding: (1) understanding that consists in seeing how the parts of a text hang together; (2) understanding that consists in grasping what a writer wanted to communicate; (3) understanding that consists in grasping the value of what the text, or its author, says. It is argued that through reading we can come to understand not only texts and authors but also subject matters. Finally, it is argued that reading‐based understanding normally builds on reading‐based knowledge.