<p>Family and psychological processes are central to mental health in emerging adulthood. To identify specific processes of mental health in this developmental period, the present study examined the link between parentification and depressive symptoms, with codependency and guilt- and shame-proneness as mediators. The sample included 124 participants between 18 and 29 years of age. Upon informed consent, participants completed a self-report questionnaire that assessed the study variables. Path analysis showed a direct link between parentification and depressive symptoms. In addition, codependency partially mediated the relation between parentification and depressive symptoms, i.e., individuals who experienced parentification were more likely to have codependent behaviors, which were linked to depressive symptoms. In contrast, guilt- and shame-proneness did not mediate the relation between parentification and depressive symptoms. The present findings highlighted codependency as a relational process between parentification and depressive symptoms in emerging adulthood. Applied researchers may consider addressing codependency among emerging adults experiencing parentification and elevated depressive symptoms.</p>