Twenty 10-to 18-year-old children and adolescents with varying degrees of hearing impairment (HI) and hearing aids (HA), ranging from mild-moderate to severe, produced picture-elicited narratives in a spoken and written version. Their performance was compared to that of 63 normally hearing (NH) peers within the same age span. The participants with HI and NH showed similar patterns regarding intragroup correlations between corresponding measures of spoken and written narratives. However, the participants with HI had significantly less diverse language than the NH group. The participants with poorer hearing (higher best ear hearing level [BEHL]) produced spoken and written narratives comprising more content words and they also produced written narratives that were less lexically diverse than the participants with better hearing (lower BEHL). The difference as to lexical skills emphasizes the importance of focusing on these skills in the group of children with HI. However, the results give support for a quite optimistic view on the development of narration in children with HI with HA, at least for picture-elicited narratives.