With development, we acquire a rich body of knowledge about the world. This knowledge is represented by concepts, denoted by words (e.g., juicy, apple, and pear), which are connected by meaningful, semantic links (e.g., apples and pears are similar, and can both be juicy). One potentially powerful driver of this development is sensitivity to regularities with which words co-occur in language. Specifically, language is rich in regularities that can support: (1) Associative semantic links, between words that directly co-occur (e.g., juicy - apple), and (2) Taxonomic semantic links, between words that share patterns of direct co-occurrence (e.g., apple and pear both co-occur with juicy). Here, we investigated the development of learning abilities to form semantic links from these regularities. Results revealed that both four-year-olds and adults formed semantic links based on direct co-occurrence, whereas formation of links based on shared patterns of co-occurrence was robust only in adults. Our findings further suggest that even abilities to form links based on direct co-occurrence (i.e. associative links) may improve with development, which may, in part, account for the protracted development of links based on shared co-occurrence (i.e. taxonomic links). We discuss how these results may provide key insight into how semantic organization develops.