Most research examining the relationship between sex role orientation and psychological well-being has been guided by either the congruence, androgyny, or masculinity model. The congruence model predicts that low self-esteem and high depression are consequences of gender/sex role incongruence. The androgyny model predicts that high self-esteem and low depression result from the additive effects of high masculinity and high femininity in both sexes. The masculinity model predicts that high self-esteem and low depression are a result of high masculinity in both sexes. Undergraduates (N=258) completed the Bem Sex Role Inventory, the Beck Depression Inventory, and the Revised Janis-Field Feelings of Inadequacy Scale. Although sex role self-concept was related to depression, the process was different for men and women. Path analysis of the data for women strongly supported the masculinity model for women; greater masculinity was associated with high self-esteem and low depression. Results of the path analysis for men partially supported the congruence model; self esteem was maximized and depression minimized when gender and sex role self-concept were congruent. The findings tend to support the general view that depression is related to sex role self-concept as a consequence of the self-concept's influence on self-esteem. (NRB)