Data from the Miami School Readiness Project were analyzed to examine the early academic achievement of 1638 low-income Black and Latinx children from immigrant and non-immigrant families. Ecologically valid school outcomes from Kindergarten to 4th grade included classroom grades, grade retention, attendance, and standardized math and reading scores. Multivariate and logistic regression analyses conducted in Mplus examined differences by immigrant status (immigrant family vs. not) and generation (1st vs. 2nd) after accounting for child and family background characteristics. Immigrant advantage and paradox was evident in children’s early school outcomes. Children in immigrant families showed better attendance, received higher grades, and scored higher on standardized assessments of reading and math when compared with peers in non-immigrant families. First-generation immigrant children, in particular, outperformed second-generation and non-immigrant children on most measures. Immigrant status effects were similar for Black and Latinx children with the exception of attendance, where the immigrant advantage was larger among Black than Latinx students. Findings suggest early academic resilience and advantage among this important and growing population of children in immigrant families, as well as a need for more investigation into solutions to cultural and societal factors that contribute to generational decline. (author abstract)