The contributions of mirror fermions to the electric dipole moments (EDM's) of leptons and neutrons are studied using the available limits on the mixing of the relevant fermions to their mirror partners. These limits imply EDM's several orders of magnitude larger than the current experimental bounds in the case of the electron and the neutron if the relevant {ital CP}-violating phases are not unnaturally small. If these phases are large, then the bounds on the EDM's can be used to improve upon the limits on mixing between the ordinary ({ital f}) and the mirror ({ital F}) fermions. In the specific case of the latter mixing angle being given by ({ital m}{sub {ital f}}/{ital M}{sub {ital F}}){sup 1/2}, one can obtain the electron and the neutron EDM's close to experimental bounds.