Among the factors affecting second language learning, individual differences have a significant role. Working memory and processing speed as the cognitive factors of individual differences play a main role in second language learning in general and listening comprehension in particular. The present study was an attempt to find the effect of working memory and processing speed on listening comprehension in second language learning. The study was conducted with the participation of 77 male and female students from four intact classes at Vali-e-Asr university of Rafsanjan. A listening comprehension test was given to the subjects and a Persian computerized version of the listening Span Test as a measure of working memory was administered individually. The process of the test followed by a processing speed test that was a letter-digit substitution test that was administered individually in a paper and pencil format. The data were analyzed using path analysis. For this purpose, Amos 20 was employed. The results of the path analysis revealed that storage and process as the components of working memory had a strong effect on listening comprehension. Furthermore, processing speed had a significant effect on listening comprehension. Hence, teachers, decision-makers, and researchers are recommended to consider these findings and provide an environment for students to improve their memory span through various methods and apply the results in teaching methodology, which in turn, improve the quality of listening comprehension in second language pedagogy.