The current study examined relations among racial discrimination (RD), depression/suicidality, substance use, and school connectedness among Black youth who identified as lesbian, gay, bisexual, some other way, or not sure (LGBQ) and heterosexual youth. Data were obtained from the Adolescent Behaviors and Experiences Survey (ABES) conducted by the Centers for Disease Control and Prevention during January-June 2021. ABES was a one-time, online survey given to a nationally representative sample of U.S. high school students. Data for the current study included 1189 Black 9th-12th graders (50.0% female and 18.8% LGBQ). Measures included self-reports of depression/suicidality during the past year, substance use in the past 30 days, current feelings of school connectedness, RD in school across the lifespan, and sexual identity. Structural equation modeling was utilized to examine study aims. Black LGBQ youth reported higher levels of RD, depression/suicidality, and substance use but lower school connectedness compared with heterosexual Black youth. RD was positively associated with depression/suicidality ( = 0.876, standard error = 0.197, < 0.001) but not with substance use ( = 0.366). Sexual identity and school connectedness did not moderate the relationships between RD and depression/suicidality or RD and substance use. RD's positive association with depression/suicidality and lack of association with substance use was similar for Black heterosexual and LGBQ youth. Future research should expand on the role of intersectionality with other identity groups and protective factors for school-based RD experiences. Educators should explore interventions beyond only school connectedness for reducing school-based RD for Black youth.