In this exploration into the associations between self-reported racism and health and wellbeing outcomes for young Aboriginal Australians, 345 Aboriginal Australians aged 16–20 years completed a questionnaire validated as culturally appropriate that sought to uncover any evidence on the effects of racism upon health outcomes. All participants had been recruited at birth between 1987 and 1990 in the prospective Aboriginal Birth Cohort Study and were followed-up between 2006 and 2008. A third of the subjects (32%) reported self-reported racism. Significant associations were observed between racism and anxiety (odds ratio [OR], 2.18), depression (OR, 2.16), suicide risk (OR, 2.32) and poor overall mental health (OR, 3.35). No significant associations were found between self-reported racism and resilience or any anthropometric measures.