© 2022 The Author(s).The relation between multilingual learning and cognition through (linguistic) giftedness has not been studied yet in third language acquisition, multilingualism or cognition studies. Even though ‘giftedness’ appears to be enigmatic and advantageous in a number of areas, in the field of language learning it is not clear whether multilingual learning or giftedness fulfils the triggering role in a number of cognitive skills. For that purpose, the present study observed the possible cognitive advantages of multilingual learning on metalinguistic awareness (Jessner 2006), working memory (Baddeley & Hitch 1974; Robinson 2002; 2012) and first language lexicon size of a number of children from regular and gifted education programmes in a Dynamic Model of Multilingualism perspective (Herdina & Jessner 2002). The study was analyzed with the multiple linear regression model based on the scores gathered from the data of working memory and vocabulary sub-tests of the Turkish adaptation version (Savaşır & Şahin 1995) of the Wechsler Intelligence Scale for Children—Revised, and metalinguistic awareness test (Pinto et al. 1999) of a number of mono-, bi- and multilingual participants from various schools. The results not only provided positive correlations between multilingual learning and metalinguistic awareness, working memory and first language lexicon size but also contributed to the identification and reconceptualization of linguistic giftedness.