A 2-wave longitudinal study of young adolescents was used to test whether peer victimization predicts depressive symptoms, depressive symptoms predict peer victimization, or the 2 constructs show reciprocal relations. Participants were 598 youths in Grades 3 through 6, ages 8 to 14 (M = 10.9, SD = 1.2) at Wave 1. The sample was 50.7% female and 90.3% Caucasian. Participants completed self-reports of depressive symptoms, and self-reports and peer nomination measures of physical and relational peer victimization at 2 time points separated by 1 year. The results were as follows: (a) depressive symptoms predicted change in both physical and relational victimization, but neither type of peer victimization predicted change in depressive symptoms; (b) depressive symptoms were more predictive of physical victimization for boys than for girls; and (c) boys experienced more physical victimization, and girls experienced more relational victimization. Expression of some depressive symptoms may represent signs of vulnerability. For boys, they may also represent a violation of gender stereotypes. Both factors could be responsible for these effects. Implications for intervention include the possibility that treatment of depression in young adolescents may reduce the likelihood of peer victimization.