Introduction: Verbal fluency (VF) is a neuropsychological measure sensitive to lexical–semantic organization and prefrontal circuits. Its link with social cognition—specifically with the recognition of mental states from the eyes—remains scarcely explored in Latin American contexts. Objective: To examine the association between performance on the Verbal Fluency Test (phonological and semantic) and mental-state recognition, as measured by the Reading the Mind in the Eyes Test (RMET) in Ecuadorian adults, controlling for sociodemographic variables. Method: A cross-sectional correlational study with 397 healthy adults (Mage = 36.8 years, SD = 11.5; range: 18–83; 219 women, 178 men) assessed in Quito, Ecuador, using the multidomain ECUACOG neuropsychological battery. Pearson’s correlations with 95% CIs, Spearman’s correlations, the Kolmogorov–Smirnov test, one-way ANOVA with η2, Tukey’s HSD post hoc comparisons, and simple linear regressions were computed. Results: Total VF was significantly associated with RMET score (r = 0.227, 95% CI [0.131, 0.319], p < 0.001, N = 390). Semantic VF showed a higher correlation than phonological VF (r = 0.239, 95% CI [0.144, 0.331] vs. r = 0.163, 95% CI [0.065, 0.258]; Steiger’s Z = 1.86, p = 0.063, non-significant trend). Educational level was associated with both VF (semantic VF: η2 = 0.093, p < 0.001) and RMET (η2 = 0.045, p < 0.001) scores. The semantic VF–RMET association remained significant after statistically controlling for TMT-B and for educational level (partial r = 0.202, p < 0.001). Conclusions: Lexical–semantic richness is significantly associated with mental-state recognition in Ecuadorian adults. These findings contribute to the generation of neuropsychological normative data in Ecuador.