The moderator role of perceived parental power and prestige in relation to perceived parental acceptance and adolescents’ psychological adjustment was analyzed in this study. The sample consisted of 306 adolescents (45% males) within the age range of 16 through 20 years (M = 17.23). Measures used were the child versions of Parental Acceptance–Rejection Questionnaire for mothers and fathers, the youth version of Parental Power–Prestige Questionnaire, and the youth version of Personality Assessment Questionnaire. Results showed that both maternal acceptance and paternal acceptance were significantly correlated with youth’s psychological adjustment, regardless of sex. Neither power nor prestige was significantly correlated with psychological adjustment. Power and prestige were, however, correlated with maternal acceptance among females, but not among males. In addition, parental prestige was negatively correlated with paternal acceptance among females. After controlling for the effects of age, hierarchical multiple regression showed that only perceived maternal acceptance made a unique contribution to the psychological adjustment of females, and only perceived paternal acceptance made a unique contribution to the adjustment of males. However, interpersonal power moderated the relationship between perceived maternal acceptance and females’ psychological adjustment.