This study uses two waves of data to examine the relations among racial discrimination experiences, patterns of racial socialization practices, and psychological adjustment in a sample of 361 African American adolescents. Using latent class analyses, we identified four patterns of child‐reported racial socialization experiences: Moderate Positive, High Positive, Low Frequency, and Moderate Negative. Experiencing racial discrimination was associated with higher levels of depressive symptoms, more perceived stress, and lower levels of well‐being. On average, adolescents who experienced High Positive patterns of racial socialization reported the most positive psychological adjustment outcomes, while adolescents in the Low Frequency and Moderate Negative clusters reported the least favorable outcomes. Results suggest that High Positive racial socialization buffers the negative effects of racial discrimination on adolescents' perceived stress and problem behaviors. Together, the findings suggest that various patterns of racial socialization practices serve as risk, compensatory, and protective factors in African American adolescent psychological adjustment.