School bullying has a detrimental impact on students, including sense of isolation and diminished school connectedness. The current study adopted social capital theory to examine the role of school connectedness as a moderator on the association between peer victimization and loneliness. A sample of 878 fourth- to sixth-grade elementary school students completed a self-report measure assessing peer victimization from school bullying, loneliness, and school connectedness. For data analyses, 834 cases (51.7% boys) were used after excluding cases with missing values. Data analyses included descriptive statistics, independent t-tests of peer victimization, loneliness, and school connectedness by gender, bivariate correlation analysis, and separate hierarchical linear regression analyses for boys and girls. Results supported existing literature revealing there was a significant mean difference in school connectedness by gender. School connectedness buffered the relationship between peer victimization and loneliness for girls as a moderator, whereas this moderating effect did not appear for boys. Implications for future research and practice are discussed.