Identifying potential mechanisms responsible for victimized children’s maladjustment over time is a crucial step in our efforts to alleviate negative consequences of victimization. In this study, we examined whether rumination would serve as a potential mediator of the prospective links between victimization in late childhood and symptoms of depression and anxiety in adolescence. The sample included 552 Finnish students (238 boys; Mage in third grade = 9.85 years, SD = .71) who participated in a longitudinal study. Participants filled out several measures where they were asked about the frequency of different forms of victimization (in third and fourth grade), how much they ruminated about their past victimization and whether it elicited sadness and anger (in seventh grade), and the degree to which they experienced depressive and anxiety symptoms (in third and seventh grade). We found that greater frequency of victimization in elementary school led to increases in symptoms of depression and anxiety through rumination. These findings suggest that at least some victimization-related negative consequences can be minimized if we are able to help young people to stop reliving their painful memories.