Researchers have noted the detrimental effects of racial microaggressions on the mental health of Black college students. Further, research has identified ethnic identity as a possible moderating factor on the mental health of racial minorities. We examined six dimensions of racial microaggressions and their relation to depression symptoms in a sample of 189 Black college students. We also investigated whether or not ethnic identity served as a moderator. Regression analyses demonstrated significant positive associations between all six dimensions of racial microaggressions and depression, and that ethnic identity significantly moderated the relationship between one dimension (i.e., Low-Achieving/Undesirable Culture) and depression, such that ethnic identity strengthened the relationship between this dimension and depression symptoms. We discuss implications for research and clinical practice on college campuses, including a need for college counselors to address racial microaggressions and ethnic identity in their clinical work.