The goal of the current study was to investigate whether peer rejection and peer victimization mediated the relation between children's aggressive behaviors and depressive symptoms. Participants were 533 fourth- and fifth-grade children (289 girls and 244 boys). Data on aggression and peer victimization were collected through teacher and peer report, whereas data on depressive symptoms were collected through self-, teacher, and peer report. Peer rejection was measured through peer nominations of liking and disliking. Through testing two competing concurrent structural models, results revealed that peer rejection and peer victimization jointly mediated the overall relation between aggression and depressive symptoms, although this mediation was only partial. Furthermore, peer rejection partially mediated the relation between aggression and peer victimization, and peer victimization partially mediated the relation between peer rejection and depressive symptoms. Suggestions for other factors that may contribute to these mediated relations are provided.