The current study examined the concurrent and prospective associations of ethnic–racial identity content (i.e., centrality, private regard, and public regard) and depressive symptomatology among Latino adolescents. Data were drawn from a longitudinal study of Latino adolescents (N = 148, 53.4% girls) who were 13–14 years old at Wave 1. Results indicated that higher ethnic–racial centrality at Waves 1 and 2 predicted fewer depressive symptoms at Waves 2 and 3, respectively. In addition, more positive private regard at Wave 1 predicted fewer depressive symptoms at Wave 2, and more positive public regard at Wave 2 predicted fewer symptoms at Wave 3. Thus, ethnic–racial identity content may serve as a cultural protective factor that is linked to diminished depressive symptomatology among Latino youth.