Depressive symptoms, somatic complaints, and circulating levels of inflammatory biomarkers interleukin-6 (IL-6) and C-reactive protein (CRP) were examined as correlates of social and physical peer victimization in an ethnically diverse sample of adolescents (N = 91) using a multi-informant approach. Hierarchical regression analyses indicated that social peer victimization was associated with higher levels of depressive symptoms, somatic complaints, and inflammation. However, being physically bullied only predicted lower levels of inflammatory markers. Additionally, the role of depressive symptoms in the victimization--inflammation relation was examined. Social victimization indirectly influenced levels of IL-6 (via depressive symptoms) and CRP (via depressive symptoms and IL-6, in series). These results provide initial evidence that peer victimization is associated with inflammatory markers in an adolescent sample and that symptoms of depression may be an important presage to inflammation and health problems, while highlighting the differential effects of social and physical forms of peer victimization.