This cross‐sectional, retrospective mixed‐method exploratory study examined 140 Israeli LGB adolescents' (14–21 year old) perceptions of their parents' level of acceptance at time of same‐sex identity disclosure and currently. Approximately 75% of respondents indicated that parents were moderately to fully accepting at time of disclosure. Approximately 15% said their parents were fully or almost fully rejecting at time of disclosure, with about half eventually becoming more accepting. Perceived parental acceptance of gay and lesbian children, but not bisexual daughters, improved over time. Increased parental acceptance was attributed to multiple factors including repeated adolescent‐initiated conversations about sexual identity, parental exposure to LGB individuals, and parental love and commitment to the relationship.