The present study, which included 124 children ages 5-11, examined developmental antecedents and social and academic consequences of stereotype-consciousness, defined as awareness of others' stereotypes. Greater age and more frequent parent-reported racial socialization practices were associated with greater likelihood of stereotype-consciousness. Children who knew of broadly held stereotypes more often explained hypothetical negative interracial encounters between White actors and Black targets as discriminatory. In addition, among African American and Latino children who knew about broadly held stereotypes, diagnostic testing conditions led to stereotype threat effects on a standardized working memory task. Findings are discussed in terms of the contribution to our understanding of children's developing thinking about and response to stereotypes and related phenomena.