In this study we examined associations over time between social anxiety symptoms and peer victimization in preadolescent children. We hypothesized that social anxiety symptoms would be both a risk factor for and a consequence of peer victimization. We tested this hypothesis through estimating bidirectional longitudinal effects of social anxiety symptoms and peer victimization. The study used secondary analysis of data from the nationally representative Early Childhood Longitudinal Study, Kindergarten Cohort 2011. We used data from child reports of social anxiety symptoms and child and teacher reports of peer victimization from three annual waves of assessment in third, fourth, and fifth grade. We tested for cross-lag effects using linear latent curve model with structured residuals. Social anxiety symptoms were correlated with peer victimization both between- and within-subjects, with stronger correlations for child-reported peer victimization. No cross-lagged associations were found between social anxiety symptoms and child-reported peer victimization. Social anxiety symptoms were a risk factor for increases in teacher-reported peer victimization, although the effect was small. This study adds to accumulating evidence that social anxiety and peer victimization are related concurrently, but we did not find the hypothesized dynamical reciprocal associations over time. Findings suggest that early identification of and intervention for social anxiety symptoms and peer victimization may be of value.