There is a thorny controversy regarding defining second language (L2) reading based on the required levels of interacting with the decoded texts and including theories that could prevent or facilitate the L2 process. This research attempts to fill the gap through providing a comprehensive analysis to the current state of knowledge and theories on second language reading; schema theory, orthographic depth hypothesis, socio-cultural theory, as well as influence from prior educational experiences, the concept of common underlying proficiency, and cross-language interference. Understanding such second language reading-related theories and hypotheses could enhance redirecting the attention to more practicality and reliability in the field as well as justifying insufficient learning outcomes of second language reading; dedicated particularly to Saudi EFL learners.