This study of 151 Mexican American adolescents ages 12 to 15 examined the relationship between parenting and adolescents’ self-reported level of depressive symptoms and substance use 6 months and 1 year later. Adolescents and their parents were recruited from a large health-maintenance organization and interviewed at three time points. Lower levels of depressive symptoms were found for adolescents with more accepting mothers and fathers, and for those whose parents exerted lower levels of strict control. Higher maternal acceptance was also consistently associated with lower levels of alcohol and marijuana use at follow-up assessments; strict control was not a useful predictor of substance use. Overall, parental acceptance demonstrated consistent if modest relationships to adolescent mental health across the domains studied. We found little evidence for interactive relationships between parenting acceptance and control but some evidence for “additive” benefits of warmth and acceptance on the part of both parents.