Based on biculturalism theory (LaFromboise, Coleman, & Gerton, 1993), the present study examined the direct effect of perceived bicultural competence (PBC) on depressive symptoms, and PBC as a potential coping resource to moderate the association between minority stress and depressive symptoms. Participants were 167 Asian American, African American, and Latino/a American students at a predominantly White Midwest university. Results from a hierarchical regression analysis suggested that (a) minority stress was positively associated with depressive symptoms after controlling for perceived general stress, (b) PBC was negatively associated with depressive symptoms after controlling for perceived general stress and minority stress, and (c) the interaction between minority stress and PBC was significant in predicting depressive symptoms. Results from a simple effect analysis supported the hypothesis that a higher level of PBC buffers the association between minority stress and depressive symptoms. Furthermore, post hoc exploratory analyses of the components of PBC suggested that 2 components, Social Groundedness and Cultural Knowledge, may be especially important coping resources. (Contains 4 footnotes, 4 tables, and 3 figures.)