AimTo explore the actor–partner effect and mediating role of depression on family strength and life satisfaction among children with disabilities and their parent–caregiver dyads.DesignA cross‐sectional study using secondary data collected from the 2020 (third) Korea Disability and Life Dynamics Panel.MethodsThis study included 434 Korean dyads of children with disabilities and their parent caregivers. A dyadic analysis was performed using the actor–partner interdependence mediation model.ResultsThe findings showed significant indirect actor effects of family strength on life satisfaction through depression for children with disabilities and their parent caregivers. The direct partner effects of one's family strengths on a partner's life satisfaction were statistically significant only for children. Additionally, significant indirect partner effects were observed in the association between parents' family strengths and children's life satisfaction through their own and their children's depression. The findings indicated that the life satisfaction of children with disabilities was more likely to be affected by their parent caregivers' perceived family strengths and depression.ConclusionIt is significant for health professionals to acknowledge the mediating and cross‐over pathways linking family strengths to life satisfaction through depression and, thus, focus on family‐based strategies to enhance life satisfaction among children with disabilities and their parent caregivers.Implications for the Profession and/or Patient CareThis study highlights the need for family‐oriented mental health interventions and education to promote life satisfaction among children with disabilities and their parent caregivers.ImpactBasic data were provided for establishing efficient healthcare education and counselling protocols and integrated family intervention programmes that can contribute to improving life satisfaction through the reduction of depression by strengthening the family strengths of disabled children–parent caregivers dyads. In future, studies should explore dyadic interdependence among children with disabilities and their parent caregivers.Reporting MethodSTROBE guidelines were followed for this study.Patient or Public ContributionNo public or patient contribution was required for this study.