This article presents a prospective investigation focusing on the moderating role of peer victimization on associations between harsh home environments in the preschool years and academic trajectories during elementary school. The participants were 388 children (198 boys, 190 girls) who we recruited as part of an ongoing multisite longitudinal investigation. Preschool home environment was assessed with structured interviews and questionnaires completed by parents. Peer victimization was assessed with a peer nomination inventory that was administered when the average age of the participants was approximately 8.5 years. Grade point averages (GPAs) were obtained from reviews of school records, conducted for 7 consecutive years. Indicators of restrictive punitive discipline and exposure to violence were associated with within-subject declines in academic functioning over 7 years. However, these effects were exacerbated for those children who had also experienced victimization in the peer group during the intervening years.