Racial discrimination is a ubiquitous experience for Black adolescents; it has been linked to poorer psychological outcomes including higher depressive symptoms and lower self-esteem. However, the mechanisms through which racial discrimination is associated with psychological well-being are still not well understood, particularly among Black early adolescents. The current study investigated two dimensions of racial discrimination: racial discrimination frequency (RDfreq) and racial discrimination stress (RDstress). Specifically, we explored the prevalence of RDfreq and RDstress among Black youth and whether RDstress mediated the association between RDfreq and psychological well-being. Seventy-four Black middle school students (68.1% female; mean age = 12.1) completed self-report questionnaires assessing RDfreq, RDstress, depression, and self-esteem; 72 were included in the final analyses. Mediation analyses were conducted using bootstrapping. Ninety percent of the sample reported experiencing some type of racial discrimination and 99% reported that these experiences bothered them. Controlling for age, gender, and ethnicity, RDstress partially mediated the relationship between RDfreq and depression. Study findings elucidate one pathway in which racial discrimination influences psychological well-being.