The research investigated the associations of social and affective factors with risk-taking in male and female adolescents. A sample of 269 Israeli adolescents completed questionnaires measuring frequency of involvement in risk-taking behaviours, relationships with parents, orientation towards peer group, depressive mood, and aggressive behaviour. Correlations and multiple regression analyses showed that risk behaviour among male adolescents was mainly related to orientation towards peer group, while for female adolescents relationships with parents was the prominent factor in risk behaviour. The parental factor also contributed to the depressive mood of both genders in the sample. However, depressive mood showed only a weak association with risk taking. These results underscore the differential associations of relationships with parents vs. peers among adolescent boys and girls, respectively, in regard to risk taking.