During the COVID-19 pandemic, U.S. youth faced various stressors that affected their schooling experiences, social relationships, family dynamics, and communities. These stressors negatively impacted youths' mental health. Compared to White youths, ethnic-racial minority youths were disproportionately affected by COVID-19-related health disparities and experienced elevated worry and stress. In particular, Black and Asian American youths faced the compounded effects of a dual pandemic due to their navigation of both COVID-19-related stressors and increased exposure to racial discrimination and racial injustice, which worsened their mental health outcomes. However, protective processes such as social support, ethnic-racial identity, and ethnic-racial socialization emerged as mechanisms that attenuated the effects of COVID-related stressors on ethnic-racial youths’ mental health and promoted their positive adaptation and psychosocial well-being.