The prevalence, etiology, and consequences of adolescent risk behavior have stimulated much research. The current study examined relationships among anger and depressive symptomatology (DS), risk perception, self-restraint, and adolescent risk behavior. Telephone surveys were conducted with 290 14- to 20-year-olds (173 females; M = 15.98 years). Anger and perceptions of risk directly predicted risk behavior. An indirect effect of depressive symptomatology on risk behavior through perceptions of risk was revealed. Anger predicted risk behavior, particularly for adolescents with low self-restraint. The association between risk perception and risk behavior was stronger for older than for younger adolescents. Findings offer insight into the affective influences of risk behavior and may be used to inform prevention and intervention programs aimed at adolescents.