Few studies have explored the mediating effect of depression on the relationship between school bullying and suicidal behavior. This study analyzed the mediating effect of depression on the association between school bullying and suicide risk and attempt in a sample of 221 children and adolescents between 11 and 17 years old (M= 13.52, SD= 1.74). Regression analysis showed that depression (OR= 1.2) and school bullying (OR= 1.4) explain between 34% and 54% of the variance in suicide risk. Depression (OR= 1.1) and the symptomatology of anxiety, depression, post-traumatic stress, and effects on self-esteem (OR= 1.3) explain between 25% and 41% of the variance in suicide attempt. Two structural equation models were constructed to demonstrate that depression mediates the relationship between school bullying, risk and suicide attempt. These findings will guide intervention strategies to prevent school bullying and suicide risk in school and community settings.