There is evidence that the cognitive vulnerabilities featured in the hopelessness theory of depression-inferential styles for the causes, consequences, and self-worth implications of negative events-increase risk for depression. Given this, it is important to understand how these inferential styles develop. In this study, we examined the impact of overt and relational peer victimization in a multiwave prospective study of 100 children (8-12 years of age) with peer victimization and inferential styles assessed every 2 months for 6 months (4 assessments total). Overt victimization uniquely predicted prospective changes in children's inferential styles for consequences and relational victimization uniquely predicted changes in inferential styles for self-characteristics. It is important to note that these relations were maintained even after controlling for the impact of concurrent depressive symptoms. These results add to a growing body of research suggesting that peer victimization may increase risk for the development of cognitive vulnerability to depression in children.