The first aim of the present study was to examine in a single model how moral disengagement and moral emotions were related to bullying and defending behavior among schoolchildren. The second aim was to test whether the two moral dimensions interacted with each other to explain behavior in bullying situations. Data were collected from 561 Swedish students. Moral disengagement was positively associated with bullying and negatively associated with defending, whereas moral emotions score was negatively associated with bullying and positively associated with defending. Moreover, students who scored high in moral emotions did not tend to bully other students, irrespective of their levels of moral disengagement, whereas when the moral emotions score was low bullying behavior increased with increasing levels of moral disengagement. In contrast, moral disengagement was negatively related to defending behavior at low levels of moral emotions, but not when moral emotions were high.