Objectives <p>Negative interpretation bias (IBN) represents a core cognitive mechanism in depression, yet the facet-specific pathways through which mindfulness modulates these processes remain inadequately characterized.</p> Method <p>A sample of 390 college students (<i>M</i>_age = 18.58, <i>SD</i> = 1.12, 16.92% male) completed validated measures of&#xa0;mindfulness facets (Five Facet Mindfulness Questionnaire),&#xa0;IBN (Interpretation Bias Questionnaire), and&#xa0;depression&#xa0;(Center for Epidemiological Studies Depression Scale). Cross-lagged panel network analyses examined directional relationships among mindfulness subcomponents, IBN, and depressive symptoms.</p> Results <p>The results revealed that (1) depression significantly and positively predicted IBN; (2) acting with awareness significantly and negatively predicted IBN; and (3) describing was associated with lower depressive symptoms, which in turn were positively related to IBN. However, (4) observing significantly and positively predicted IBN.</p> Conclusions <p>Acting with awareness was associated with lower levels of IBN, whereas observing was associated with higher levels of bias. These findings suggest that component-specific adaptations in mindfulness-based interventions may be relevant for addressing depressive vulnerability in emerging adulthood.</p> Preregistration <p>This study is not preregistered.</p>