Objective: The study evaluated the feasibility and acceptability, as well as conducted an initial test of effectiveness, of a peer-based mentoring program for mental health problems among college students. Participants: Thirty-two undergraduate students from a University in the southern part of the United States who exhibited moderate depression or anxiety symptoms were assessed. The participants were primarily white and in their freshman year. Methods: Participants were randomized into two groups. Participants in the intervention group met with a trained peer mentor once a week for four weeks, while participants in the control group were placed on a waitlist. All participants completed pre- and post-treatment surveys to assess anxiety and depression symptoms. Results: The data indicated that participants in the intervention group had significantly greater post-treatment reductions in depression symptoms. Conclusion: These findings provide preliminary support for the use of peer-based mentoring programs in treating mental health problems on college campuses.