The number of children who have received cochlear implants (CIs) has increased dramatically in the past two decades. In view of potential concerns about their psychosocial adjustment, our aim was to assess the effect of implants on the adolescents' psychosocial functioning among a group of 57 deaf adolescents with and without CIs, using published and validated measures completed by the adolescents themselves, their parents, and teachers. Adolescents with CI tended to be more hearing acculturated, whereas those without CI tended to be more Deaf acculturated. Despite some differences in background characteristics between the two groups, there were no differences between them on the psychosocial variables assessed in this study, regardless of the reporting sources. Rather than having a direct effect on the psychosocial outcomes assessed in this study, it is through the mediating effect of acculturation and school setting that CI status exerts an influence over many of this study's outcomes. Recommendations for future research are made in light of our findings.