Opportunity theory enhances one’s understanding of school-based adolescent victimization. Race and ethnicity plays a significant role in school-based victimization. What is uncertain is how opportunity is linked to the school-based victimization of racial and ethnic minority adolescents. This study explores how race and ethnicity interact with opportunity and victimization. Analyses, which are drawn from the Educational Longitudinal Study of 2002 and employ hierarchal generalized logistic model analyses, suggest some important results. Most notably, the relationships between opportunity and victimization vary across racial and ethnic groups. For instance, athletic extracurricular activity involvement is an insulating factor for White Americans but a potential risk factor for Latino Americans and Asian Americans. Besides discussing the findings of this study, this article underscores the importance of understanding racial and ethnic minority school-based adolescent victimization.