Background: Research indicates that phonological awareness is correlated to mathematical abilities. There are, however, little evidence in Greek language. Purpose: The purpose of this research is to identify whether there is a relationship between phonological awareness (PA) and mathematical skills in monolingual Greek 1st Graders. Although Greek language differs from English in morphology and phoneme-grapheme correspondence, similar findings are expected as in international literature. Method: The present study assessed 45 children, students of 1st Grade in non-verbal IQ, reading, Rapid Automatized Naming (RAN), Phonological Awareness (PA) and mathematical skills. Results and conclusions: Correlation analysis showed that there is a significant correlate between mathematical abilities and PA, and RAN. In addition, mathematical skills correlate to reading abilities and age of the participant. Regression analysis also revealed a correlation between mathematical abilities and PA, and RAN.