Data were examined from 5147 fifth-grade students and their parents from public schools in 3 US metropolitan areas, in an attempt to describe the prevalence, characteristics, and mental health problems of children who experience perceived racial/ethnic discrimination. Fifteen percent of children reported perceived racial/ethnic discrimination, with 80% reporting that discrimination occurred at school. Higher proportions of Black (20%), Hispanic (15%), and other (16%) children reported perceived racial/ethnic discrimination compared with White (7%) children. Children reporting perceived racial/ethnic discrimination were more likely to have symptoms of each of the 4 mental health conditions included in the multivariate logistic regression analysis: depression, attention deficit hyperactivity disorder, oppositional defiant disorder, and conduct disorder. Perceived racial/ethnic discrimination and depressive symptoms was associated with depressive symptoms for Black, Hispanic, and other children but not for White children.