It is unclear what factor structure best represents the Positive and Negative Affect Schedule (PANAS) from childhood to adulthood. The PANAS structure was examined in a sample of 555 children (M age = 11.66, SD = 1.24), 608 adolescents (M age = 15.45, SD = 1.09), and 553 young adults (M age = 18.75, SD = 1.00). A partially invariant model consisting of Positive Affect, Fear, and Distress factors best represented the PANAS across all age groups, indicating that the underlying constructs are the same across age but that the factors become increasingly interrelated with increasing age.