The COVID-19 outbreak has caused a great impact in our society. Because of its rapid spread, many countries, including Spain, were forced to impose drastic measures (i.e., restrictive lockdowns) to guarantee social distancing and isolation. In some countries, like Spain, these measures were particularly restrictive for children, who were forced to stay at home for more than 40 days, suffering a drastic change in their daily routines. The present study aimed to examine the effects of the Spanish confinement derived from the COVID-19 crisis on children and their families, accounting for child’s age. A range of child negative (e.g., conduct problems) and positive outcomes (e.g., routine maintenance) were examined, along with a set of parent-related variables, including resilience, perceived distress, emotional problems, parenting distress and specific parenting practices (e.g., structured or avoidant parenting), which were modeled through Path Analysis to better understand child adjustment. Data was collected in April 2020, through parent-reports, on a sample of 1,123 Spanish children (50% girls) aged three to 12 (Mage = 7.26; SD = 2.39). Results suggested that, according to parents’ information, most children did not show important changes in behavior, although some increase rates were observed for both negative and positive outcomes. Child adjustment was influenced by a chain of effects, derived from parents’ perceived distress and emotional response to the COVID-19 crisis, via parenting distress and specific parenting practices. While parenting distress particularly triggered child negative outcomes, specific parenting practices were more closely related to child positive outcomes. These findings may help to better inform, for potential future outbreaks, effective guidelines and prevention programs aimed at promoting child’s well-being in the family.