Consistent with a resilience framework (Mastem and Coatsworth, 1998; Rutter, 1987), the study findings suggest that aspects of positive self-concept (e.g., self-esteem and ethnic identity) may minimize the negative effects of risks associated with perceived discrimination. As adolescents reported higher levels of a sense of ethnic identity, they also tended to report higher levels of self-esteem. Further, self-esteem was apparently linked to lower perceptions of discrimination and improved levels of mental health. The analyses further revealed that the relationship between discrimination and both self-esteem and depressive symptoms was moderated by boys' but not girls' cultural orientations. The findings suggest that boys who are strongly oriented toward mainstream culture may be at heightened risk for the negative effects of discrimination. Also, when boys reported low levels of Latino cultural orientation, there was a significant positive association between their perceptions of discrimination and their depressive symptoms. Girls' cultural orientations, on the other hand, did not place them at risk for or protect them from the negative implications of perceived discrimination. It is possible that for girls, strong ties to family may protect them from the negative effects of discrimination. Data for the current study were drawn from a larger longitudinal study that focused on Latino adolescents' formation of ethnic identity. The median age of the 273 adolescents was 16.3 years, and 47.6 percent of the sample consisted of girls. The study measured demographic characteristics, perceptions of discrimination, sense of ethnic identity, level of self-esteem, depressive symptoms, and cultural orientations. 4 tables, 1 figure, and 60 references