The present study was designed to investigate the stress among school-going adolescents in relation to psychological hardiness and also to study the gender and locale-wise differences in various dimensions and components of stress. The study was conducted over a sample of 200 (100 rural and 100 urban) adolescents studying in 10+1 and 10+2 classes in four schools (2 rural and 2 urban) of the Muktsar Sahib District of Punjab. Dr. Abha Rani Bisht's Battery of Stress Scales (1992) and Nowack's Psychological Hardiness Scale (1990) were employed to measure the adolescents' various dimensions and components of stress and psychological hardiness respectively. The results reported that there exist significant gender differences among school-going adolescents in terms of their existential stress, achievement stress, academic stress, self-concept stress, self-actualization stress, physical stress, social stress, institutional stress, financial stress and superstition stress, whereas significant locale-wise differences among school-going adolescents were found only in terms of existential stress, role stress, institutional stress and financial stress. Apart from the above, stress among school-going adolescents was found to be significantly negatively correlated with the psychological hardiness of the adolescents.