Although peer influence is a strong predictor of adolescents’ risk‐taking behaviors, not all adolescents are susceptible to their peer group. One hundred and thirty‐six adolescents (M
age = 12.79 years) completed an fMRI scan, measures of perceived peer group norms, and engagement in risky behavior. Ventral striatum (VS) sensitivity when anticipating social rewards and avoiding social punishments significantly moderated the association between perceived peer norms and adolescents’ own risk behaviors. Perceptions of more deviant peer norms were associated with increased risky behavior, but only for adolescents with high VS sensitivity; adolescents with low VS sensitivity were resilient to deviant peer norms, showing low risk taking regardless of peer context. Findings provide a novel contribution to the study of peer influence susceptibility.