Scientific evidence for effective "parental responses to peer victimization" ("PRPV") is sorely lacking. In this conceptual article, we first consider direct parental efforts to reduce peer victimization (i.e., direct PRPV) through explicitly coaching children about how to cope with peer victimization or intervening in the situation. We encourage researchers to examine whether and how direct PRPV may be successful, acknowledge possible limitations, and explore other forms of parental influence in the context of peer victimization. As an alternative or supplemental approach, we describe indirect, or "compensatory," parental efforts to support the psychological health of children who experience peer victimization (i.e., compensatory PRPV). We provide illustrations of compensatory PRPV in which parents step up their efforts to encourage positive self-appraisals, facilitate positive social interactions, and support activity involvement in response to children's experiences of peer victimization. We also suggest directions for future research on PRPV.