We investigated the time course of morphological processing during spoken word recognition using the printed-word paradigm. Chinese participants were asked to listen to a spoken disyllabic compound word while simultaneously viewing a printed-word display. Each visual display consisted of three printed words: a semantic associate of the first constituent of the compound word (morphemic competitor), a semantic associate of the whole compound word (whole-word competitor), and an unrelated word (distractor). Participants were directed to detect whether the spoken target word was on the visual display. Results indicated that both the morphemic and whole-word competitors attracted more fixations than the distractor. More importantly, the morphemic competitor began to diverge from the distractor immediately at the acoustic offset of the first constituent, which was earlier than the whole-word competitor. These results suggest that lexical access to the auditory word is incremental and morphological processing (i.e., semantic access to the first constituent) that occurs at an early processing stage before access to the representation of the whole word in Chinese.