In the U.S., relative to White people, Black people are stereotyped as less competent and less warm, whereas Asian people are stereotyped as more competent but less warm. These cultural beliefs influence how racial minorities fare within society. The present research tested 5- to 7-year-olds to examine the developmental trajectory of these stereotypes. Study 1 (N = 72, 36 girls; 47% White) found that children as young as 5 attributed warmth and competence to White people (versus Black people). Study 2 (N = 72, 36 girls; 55% White) revealed that, starting at age 7, children began to associate competence with Asian people and warmth with White people. From early in life, children endorse common racial stereotypes about warmth and competence.