More intelligent individuals typically show faster reaction times. However, individual differences in reaction times do not represent individual differences in a single cognitive process but in multiple cognitive processes. Thus, it is unclear whether the association between mental speed and intelligence reflects advantages in a specific cognitive process or in general processing speed. In this article, we present a neurocognitive-psychometrics account of mental speed that decomposes the relationship between mental speed and intelligence. We summarize research employing mathematical models of cognition and chronometric analyses of neural processing to identify distinct stages of information processing strongly related to intelligence differences. Evidence from both approaches suggests that the speed of higher-order processing is greater in smarter individuals, which may reflect advantages in the structural and functional organization of brain networks. Adopting a similar neurocognitive-psychometrics approach for other cognitive processes associated with intelligence (e.g., working memory or executive control) may refine our understanding of the basic cognitive processes of intelligence.