The present study examined the extent to which self-concept is related to depressive and externalizing symptoms in Hispanic adolescents, in the presence of contextual variables. A sample of 167 Hispanic adolescents and their primary caregivers completed measures of family functioning, and of school bonding and competence. Adolescents completed measures of self-concept and peer antisocial behavior. Reports of depressive symptoms were gathered from adolescents only, whereas reports of externalizing symptoms were gathered from both adolescents and parents. Self-concept was directly and negatively related to adolescent reports of both depressive and externalizing symptoms, but not to parent reports of externalizing problems. The relationships of school bonding and peer antisocial behavior to adolescent-reported adjustment appeared to operate through self-concept, and the strong bivariate relationships of adolescent-reported family functioning to adolescent-reported adjustment appeared to operate through school bonding and self-concept. Implications for further research and for intervention are discussed.