School bullying is a major risk factor related to students' mental health. This study explores the longitudinal relationship between bullying victimization and life satisfaction, focusing on the roles of non-suicidal self-injury (NSSI), difficulties in emotional regulation, and family cohesion. Data from 742 Chinese adolescents who completed a two-wave longitudinal study were analyzed using a moderated parallel mediation model. Results showed that greater bullying victimization were significantly associated with lower life satisfaction. NSSI and difficulties in emotional regulation significantly mediated this relationship. Furthermore, family cohesion significantly moderated the indirect relationship between bullying victimization and life satisfaction through NSSI but not through difficulties in emotional regulation. This study confirms the relationship between bullying victimization and life satisfaction through a moderated parallel mediation model, with NSSI and difficulties in emotional regulation as parallel mediators and family cohesion moderating the mediation involving NSSI. Implications and future research directions are also discussed.