Peer victimization is a well-established risk factor for children's internalizing problems. We longitudinally examined the moderating role of children's early perceptions of positive peer relationships and inhibitory control on the association between peer victimization at age 6 and internalizing symptoms at age 10. Perceptions of peer relationships and inhibitory control were assessed via child interviews and behavioral tasks when children were 5 years old (n = 205, 51% female). Peer victimization was assessed via sociometric peer nominations. Internalizing symptoms were assessed via maternal report at age 10. Results indicated that, for children who perceived fewer positive peer relationships at age 5, higher rates of peer victimization at age 6 were associated with more internalizing problems at age 10. This pattern was also found for children with lower inhibitory control. Findings highlight that children's early individual difference factors should be considered when conceptualizing risk for internalizing symptoms posed by peer victimization.