This study examines how the presence of outdoor recreation areas such as parks and playgrounds affects children’s well-being and how this effect is moderated by families’ socioeconomic status. Specifically, I aim to answer two research questions. First, does the presence of outdoor recreation areas in children’s neighbourhoods affect their cognitive well-being? Second, is there a differential effect depending on children’s socioeconomic status? The main part of the study uses data from the International Survey of Children’s Well-Being. The results suggest that the presence of outdoor recreation areas in children’s neighbourhoods has a positive effect on their well-being. In addition, the estimated effect of outdoor recreation areas is larger for children from families with low socioeconomic status. Finally, findings from the Growing Up in Ireland data set suggest that children’s reduced mental problems are a plausible mechanism through which outdoor recreation areas affect children’s well-being. These findings have meaningful policy implications. Providing better access to appropriate outdoor recreation areas appears to benefit disadvantaged children more and thus reduce inequality in children’s well-being.