This study carefully examined compensating, mediating, and moderating effects of positive school climate on the relationship of socioeconomic status (SES) and achievement in a nationally representative sample of ethnocultural minority Arabic speaking students in Israel (N = 21,873). Positive school climate was predominantly influential in schools with vulnerable ethnic groups and students from disadvantaged backgrounds. Narrower achievement gaps among students with different personal SES backgrounds were achieved in schools with positive climates. Results suggest improving school climate can increase students' academic opportunities and offer special benefits for students from less advantaged backgrounds. Implications for research, practice, and policy are discussed.