Studies of the effects of intimate partner violence (IPV) on parenting have usually not examined the role of the maternal perceptions, either its stress or maternal satisfaction, on the mothers’ and children’s mental health functioning. The present study aimed to assess whether maternal satisfaction, parenting stress, and social support are significantly associated with women’s psychological functioning. The study also assessed whether maternal perceptions of the role of parenting were significantly associated with children’s emotional well-being and social behavior. The sample included 160 mothers, 79 (49.4%) who were living with the aggressors and 81 (50.6%) in shelters, and their children (n = 61). The findings suggested that high levels of maternal satisfaction and perception of social support were significantly negatively associated with women’s posttraumatic stress disorder (PTSD) symptoms and psychological distress, whereas parenting stress was significantly positively associated with these outcomes. Maternal satisfaction was the only parenting variable that predicted both maternal mental health and children’s emotional and behavioral problems, suggesting that it is a protective factor for both mothers and children. This study suggests that increasing maternal satisfaction with parenting and reducing parenting stress might promote better adjustment for both women and children victims of IPV.