This study examines the mediation effect of children’s depressive symptoms in the relationship between perceived maternal rejection and school bullying. Moreover, it explores the moderating role of paternal acceptance in this relationship. Two hundred and one pupils of 5th and 6th grade completed questionnaires about maternal and paternal acceptance-rejection, depressive symptoms and bullying/victimization. The indirect effects were examined using mediation analysis and Sobel’s test, while for the conditional indirect (moderated mediation) effects, the MODMED program was used. The results showed that depressive symptoms mediated the relationship between maternal rejection and victimization of self or bullying others. In addition, it was found that paternal acceptance moderated the relationship ‘maternal rejection- depressive symptoms-victimization of self’ as well as the relationship ‘maternal rejection- depressive symptoms-bullying others’. These findings highlight the importance of father’s role both in the psychological well being of children as well as in the complex phenomenon of school bullying.