Parenting stress has been linked to child development issues in early preterm infants, but less is known about its effects on development in infants born late preterm. We examined relationships between parenting stress of 108 mothers and 108 fathers and development of late preterm infants born at 34 0/7 to 36 6/7 weeks gestation. At 4 months corrected age, mothers and fathers completed the Parenting Stress Index (PSI‐3); mothers were primary caregivers in almost all families and completed the Ages and Stages Questionnaire (ASQ‐2) on child development. Mothers reported significantly more stress than fathers on the PSI‐3 Parent Domain. PSI‐3 subscale scores from the Child Domain were significant predictors of mother‐reported infant development as measured by the ASQ‐2 in regression models: Reinforces Parent predicted Gross Motor, Mood predicted Communication, and Acceptability predicted Communication, Fine Motor, Problem Solving, and Personal ‐Social development scale scores. Experiences of parenting stress differed for mothers and fathers. Further research is required on specific dimensions of parenting stress related to development of late preterm infants.