Schizotypy and schizophrenia involve social disinterest (anhedonia) and social anxiety. To clarify the role of social dysfunction in schizotypy, this study examined the relationship of social anxiety and social anhedonia in 364 young adults. As hypothesized, there was a moderate association between these constructs, which diminished after partialing out positive schizotypy. A series of CFAs found that a three-factor solution with positive schizotypy, negative schizotypy, and social anxiety factors provided the best fit for the data. Social anxiety is more strongly associated with positive schizotypy than negative schizotypy. A model in which social anxiety and anhedonia formed a general social dysfunction factor did not provide adequate fit, suggesting that social anhedonia and social anxiety are separate constructs with different relationships to schizotypy.