Relations between adolescents' reports of parental management of peer relationships (consulting, mediating, and autonomy granting in regard to peer relationships) and positive friendship quality, friendship conflict, delinquent activity, and drug use were examined in an ethnically diverse sample of 322 7th and 8th graders. Regression analyses revealed that higher levels of consulting and mediating were related to higher levels of positive friendship quality and that higher levels of autonomy granting were related to lower levels of friend conflict, delinquent activity, and drug use. Higher levels of consulting were related to lower levels of delinquent activity and drug use. Relations between parental management and delinquent activity were moderated by ethnicity and family structure. The relation between parental management and drug use was moderated by ethnicity.