Words learned earlier in life are processed faster than words learned later in life. In Chinese, the age of acquisition (AoA) effect has been extensively studied in one-character words, yet no studies have explored this effect in compound words. Given that compound words are a widespread word type and are processed differently than one-character words, it is unclear how AoA affects compound word processing. The present study examined the role of multiple variables in the processing of Chinese two-character compound words based on a database of eye-movement measures. We focused on the AoA effect from the whole compound word and the first and second characters. We found that whole-word AoA and first-character AoA have an early and long-lasting influence, with no AoA effect from the second character. The results indicated that two-character compound words are accessed via the character and whole word simultaneously. These findings are discussed with respect to theories of the AoA effect.