The aim of the study was to compare the effects of aquatic intervention with those of land‐based intervention on social function, perceived competence, and social acceptance in children with cerebral palsy (CP). Twenty‐two children (F, 17; M, 5) with spastic diplegia CP participated in the study: 12 in the aquatic intervention group (5.4 yrs ± 0.95); and 10 in the exercise intervention group (4.9 yrs ± 0.99). Social function was measured by the Paediatric evaluation of disability inventory (PEDI) social function domain. Perceived competence and social acceptance were measured by the Pictorial scale of perceived competence and social acceptance for children with cerebral palsy. Paired t‐tests were used to evaluate differences between groups. To reveal relationships across all measures Pearson correlations were carried out. Because of small group sizes, effect sizes were calculated across measures for each dependent variable. Results were calculated for each dependent variable before and after a four‐month intervention period. No significant changes were found between groups in perceived physical competence. Significant differences (t = 2.26, p < 0.035) were found between groups in perceived social acceptance in favour of the aquatic group. No significant differences were found between groups in the PEDI social function. Significant differences were found between pre‐test to post‐test scores in the PEDI caregivers social function domain (t = −3.78, p < 0.003) in the aquatic intervention group but not in the exercise group (t = −2.11, p < 0.065). Aquatic intervention appears to have a positive effect on perceived social acceptance and social function as reported by caregivers.