The TOWRE-2 measures an individual’s ability to pronounce printed words (i.e., sight word efficiency) and phonemically regular nonwords (i.e., phonemic decoding efficiency) accurately and fluently. Because it can be administered very quickly, the test provides an efficient means of monitoring the growth of these two types of word reading skills, which are critical in the development of overall reading ability. Because both subtests include new word lists, four alternate forms of each subtest are now available, making the test more useful for monitoring progress and evaluating the impact of instructional interventions. The Sight Word Efficiency (SWE) subtest assesses the number of real words that an individual can accurately identify within 45 seconds. Similarly, the Phonemic Decoding Efficiency (PDE) subtest measures the number of pronounceable nonwords that an individual can accurately decode within 45 seconds. The four forms of each subtest are of equivalent difficulty, and any of the forms of each subtest may be given depending on the purposes of the assessment. The manual has been extensively revised and provides new information about the validity and reliability of the TOWRE-2.