Children in low-income and ethnic minority families are more likely to be in poor health, which may impact physical and economic well-being in adulthood. This study explored how maternal depression and parenting efficacy were associated with child health outcomes in a sample of low-income African American and Latino families. Results demonstrated that children in optimal health were more likely to have mothers with high parenting efficacy and fewer depressive symptoms. Differences between African American and Latino families illustrated the importance of considering both socioeconomic and racial and ethnic disparities in child health simultaneously. Parent characteristics may be opportune targets for addressing child health disparities, and future research should focus on understanding these associations and identifying parent behaviors associated with child health.