This article studied homophobic victimization and victimization based on gender nonconformity and its effects on the school and psychosocial adaptation of young Quebecers. A non-probabilistic sample of 262 youth (173 girls, 89 boys) aged 14 to 22 years old (M = 17.9 y.o.) was built. Bivariate comparisons and structural equation modeling were performed. Young LGBTQ showed lower sense of security at school, lower self-reported school achievement and higher psychological distress. Results indicated that homophobic victimization, friend social support, psychological distress and sense of security at school mediated school achievement of the young LGBTQ. Findings support the importance of implementing interventions to reduce homophobia in schools and highlight the central role played by peers in this endeavor.