Background <p>Parental depression is a prevalent issue that significantly affects children across various domains of development. Children of depressed parents are at an increased risk for emotional difficulties, including heightened anxiety, depression, and lower self-esteem.</p> Objectives <p>This longitudinal study investigates the impact of parental depression on child happiness and self-value, exploring the mediating roles of empathy and social support.</p> Methods <p>Data were collected through surveys at two time points (Time 1 and Time 2), with participants including 660 fathers, 826 mothers, and 756 children at Time 1, and 372 fathers, 403 mothers, and 371 children at Time 2.</p> Results <p>The results revealed via regression analyses that child social support at Time 1 (β = 0.375, <i>p</i> &lt; .001) and Time 2 (β = 0.521, <i>p</i> &lt; .001) significantly predict child happiness, with minimal direct effects from both father and mother depression. Child social support also emerged as a significant predictor of child self-value at both time points (β = 0.401, <i>p</i> &lt; .001 at T1, β = 0.592, <i>p</i> &lt; .001 at T2), while empathy, though positively associated with child well-being, did not show significant mediating effects.</p> Conclusion <p>These findings emphasize the crucial role of social support in fostering children’s psychological resilience, highlighting its potential as an effective intervention for children of depressed parents and the need for further research on targeted interventions to enhance child well-being.</p>