While neuroimaging studies have identified brain regions associated with single word reading, its three constituents, namely, orthography, phonology, and meaning, and the functional connectivity of their networks remain underexplored. This study examined the neurocognitive underpinnings of these neural activations and functional connectivity of the identified brain regions using a within-subject design. Thirty-one native Mandarin speakers performed orthographic, phonological, and semantic judgment tasks during functional magnetic resonance imaging. The results indicated that the three processes shared a core network consisting of a large region in the left prefrontal cortex, fusiform gyrus, and medial superior frontal gyrus but not the superior temporal gyrus. Orthographic processing more strongly recruited the left dorsolateral prefrontal cortex, left superior parietal lobule and bilateral fusiform gyri; semantic processing more strongly recruited the left inferior frontal gyrus and left middle temporal gyrus, whereas phonological processing more strongly activated the dorsal part of the precentral gyrus. Functional connectivity analysis identified a posterior visuospatial network and a frontal phonosemantic network interfaced by the left middle frontal gyrus. We conclude that reading Chinese recruits cognitive resources that correspond to basic task demands with unique features best explained in connection with the individual reading subprocesses.