The purpose of the current investigation was to examine the role of youth anger regulation and reactivity in the link between parenting and social adjustment among a sample of 84 youth residing in disadvantaged neighborhoods in a mid-southwestern city. Using path analysis, findings indicate that parents’ responsive and discipline-related behaviors were associated with antisocial and prosocial behaviors in different ways. Parental support was positively associated with prosocial behavior (directly and indirectly through anger regulation), while permissive discipline was positively associated with antisocial behavior directly and indirectly through anger reactivity. The patterns of associations in the model remained significant even after youth age and sex were entered as covariates. Implications of the study for intervention programs targeting anger regulation and parenting in youth and families in high-risk settings are discussed.