Using a cross-sectional sample of 534 Latino students from middle and high schools in a large North Carolina school district, we examined the relation of general and ethnic-biased bullying to depression and the indirect pathways through depression to suicidal ideation and substance use outcomes. A structural equation model tested the direct and indirect paths. The final model fit was excellent, χ2(90) = 127.6, p = .0056, RMSEA = 0.028, CFI = 0.974, TLI = 0.961. Ethnic-biased and verbal or relational bullying had a direct effect on depression, but general and physical bullying did not. Indirect effects through depression were found for ethnic-biased and verbal or relational bullying in relation to suicidal ideation, alcohol, and illicit drug use. Child nativity was marginally associated with ethnic-biased bullying, indicating foreign-born students may experience greater ethnic-biased bullying. Implications for future research and bullying prevention are discussed.