While research shows that low levels of social acceptance and elevated body dissatisfaction increase risks for depressive symptoms among both girls and boys, little is known about protective factors that can mediate these risks. We test the hypothesis that positive team sports involvement mediates the effects of these risks on depression in a cross-sectional study involving a diverse group of 449 Canadian students (49.7% girls) recruited from grades 8 to 10. Findings showed that positive team sports involvement partially mediated risks for depressive symptoms for both boys and girls. Implications for community- and school-based sports programs are discussed.