Media afford audiences opportunities to develop nonreciprocal, socioemotional bonds with fictional characters and celebrities called parasocial relationships. Audiences’ parasocial relationships may feel like friendships, but they may also take the form of romantic attachments. The parasocial relationships that children and teens develop with their favorite media figures can serve as socialization agents. Fictional characters and celebrities that are perceived as important social others have the potential to teach, persuade, alter attitudes and beliefs, and influence identity and psychological well-being. The research on parasocial relationships among young people is reviewed here as a means of providing background and context for recommending future research to media psychology scholars, and for recommending actions that parents, teachers, and community members can take to better understand young people’s lived experiences in the media-saturated world of today.