Building on prior research showing fewer parenting risk behaviors and lower levels of harsh punishment among less acculturated Hispanic parents, we tested the hypothesis that foreign-born (FB; immigrant) Hispanic parents use less spanking toward children at 3 years and 5 years of age than U.S.-born Hispanic parents. We also examined whether other indicators of acculturation—endorsement of traditional gender norms and religiosity—showed any direct or indirect effects in explaining the hypothesized association. Path model analyses were conducted with a sample of Hispanic mothers (n = 1,089) and fathers (n = 650). Cross-sectional and time lagged path models controlling for a wide range of psychosocial and demographic confounds indicated that, when compared with U.S.-born Hispanic parents, FB Hispanic mothers and fathers used less spanking toward their young children. In cross-sectional analysis only, mothers’ greater endorsement of traditional gender norms had small protective effects on spanking. Although fathers’ endorsement of traditional gender norms was not a significant direct predictor of spanking, there was a significant indirect effect of nativity status on spanking mediated by endorsement of traditional gender norms. Religiosity showed no relation to spanking for either mothers or fathers. Immigrant status may be an important protective factor that is associated with lower levels of parenting aggression among Hispanic mothers and fathers living in the United States.