This study examined the mediation effect of cognitive appraisals and the moderation role of peer status in the association between interparental conflict and adolescents' affective well-being based on a sample of 549 Chinese adolescents from 7th to 12th grades. Interparental conflict properties, adolescents' cognitive appraisals of conflict, affective well-being, and peer status were measured through scales and peer nomination surveys. The results of structure equation modeling showed that: cognitive appraisals totally mediated the association between marital conflict and adolescents' affective well-being; peer status moderated the effect of marital conflict on adolescents' positive affect but not on negative affect; and the relationship between marital conflict and positive affect showed different patterns for adolescents of different social status. Therefore, to better understand affective well-being of adolescents from high marital conflict families, their cognitive appraisals of conflict and peer relations should be taken into account. (Contains 2 tables and 2 figures.)