This study examined the relationship between emotional intelligence, anxiety and depression among adolescents. Two hundred and fifty high-school students were administered the Trait Meta-Mood Scale (TMMS), a self-report measure of emotional intelligence, along with measures of thought suppression, self-esteem, anxiety, and depression. It was hypothesized that emotional abilities would predict psychological adjustment above and beyond factors that have been previously associated with poor adjustment (i.e., self-esteem and thought suppression). The study revealed two main findings. First, self-reported ability to regulate mood (Emotional Repair) was positively related to self-esteem. Second, self-reported emotional intelligence was negatively related to levels of depression and anxiety. Specifically, the ability to discriminate clearly among feelings (Emotional Clarity) and the ability to self-regulate emotional states were associated with better psychological adjustment, independent of the effects of self-esteem and thought suppression. The results provide support for the hypothesis that emotional abilities are an important and unique contributor to psychological adjustment.