Dyslexia is a frequent developmental disorder in which reading acquisition is delayed and that is usually associated with difficulties understanding speech in noise. At the neuronal level, children with dyslexia were reported to display abnormal cortical tracking of speech (CTS) at phrasal rate. Here, we aimed to determine if abnormal tracking relates to reduced reading experience, and if it is modulated by the severity of dyslexia or the presence of acoustic noise.We included 26 school-age children with dyslexia, 26 age-matched controls and 26 reading-level matched controls. All were native French speakers. Children's brain activity was recorded with magnetoencephalography while they listened to continuous speech in noiseless and multiple noise conditions. CTS values were compared between groups, conditions and hemispheres, and also within groups, between children with mild and severe dyslexia.Syllabic CTS was significantly reduced in the right superior temporal gyrus in children with dyslexia compared with controls matched for age but not for reading level. Severe dyslexia was characterized by lower rapid automatized naming (RAN) abilities compared with mild dyslexia, and phrasal CTS lateralized to the right hemisphere in children with mild dyslexia and all control groups but not in children with severe dyslexia. Finally, an alteration in phrasal CTS was uncovered in children with dyslexia compared with age-matched controls in babble noise conditions but not in other less challenging listening conditions (non-speech noise or noiseless conditions); no such effect was seen in comparison with reading-level matched controls.Overall, our results confirmed the finding of altered neuronal basis of speech perception in noiseless and babble noise conditions in dyslexia compared with age-matched peers. However, the absence of alteration in comparison with reading-level matched controls demonstrates that such alterations are associated with reduced reading level, suggesting they are merely driven by reduced reading experience rather than a cause of dyslexia. Finally, our result of altered hemispheric lateralization of phrasal CTS in relation with altered RAN abilities in severe dyslexia is in line with a temporal sampling deficit of speech at phrasal rate in dyslexia.