Difficulties with figurative language comprehension were documented in adult dyslexia (DYS). In the present research, we investigated the comprehension and generation of metaphors in 37 children, 35 adolescents, and 34 adults with and without DYS. We also tested the contribution of executive function to metaphor processing. A multiple‐choice questionnaire with conventional and novel metaphors was used to assess comprehension; a concept‐explanation task was used to test conventional and novel metaphor generation (verbal creativity). The findings indicated differences between the dyslexic children and the control group in conventional metaphor comprehension. However, both groups performed similarly in the novel metaphor comprehension test. Furthermore, although children and adolescents with DYS showed similar performance in metaphor generation as their typically developing peers, adults with DYS generated more metaphors than controls. While scores on tests of verbal knowledge and mental flexibility contributed to the prediction of conventional metaphor comprehension, scores on non‐verbal tests and mental flexibility contributed to the prediction of novel metaphor generation. Our findings suggest that individuals with DYS are not impaired in novel metaphor comprehension and metaphor generation and that metaphor comprehension and generation utilize different cognitive resources. Copyright © 2016 John Wiley & Sons, Ltd.