Lesbian, gay, and bisexual (LGB) youth are more likely than their heterosexual peers to experience physical, sexual, and verbal victimization. While several studies have provided information regarding prevalence rates and consequences of victimization among LGB youth, research has yet to examine mechanisms through which victimization may lead to psychopathology in this population. Prior research in the general population has indicated that verbal victimization, the most frequent form of victimization experienced by LGB youth, increases risk for psychopathology by leading to the development of a maladaptive pattern of cognitions. The present study investigated the role of maladaptive cognitions regarding the self, specifically self-criticism and internalized homophobia, in the relationship between verbal victimization, and depressive and posttraumatic stress disorder (PTSD) symptoms in LGB youth. Study results indicate that verbal victimization from relatives and non-relatives was significantly related to depressive and PTSD symptoms. Relative verbal victimization, but not non-relative verbal victimization was related to self-criticism. Neither relative verbal victimization nor non-relative verbal victimization were significantly related to internalized homophobia. Self-criticism and internalized homophobia were both significantly related to depressive symptoms, but only self-criticism was significantly related to PTSD symptoms. Self-criticism was found to partially mediate the relationship between relative verbal victimization and depressive symptoms and to mediate the relationship between relative verbal victimization and PTSD symptoms. Implications of findings, study limitations, and future directions are discussed.