A longitudinal analysis of the psychological well-being of 81 young children ages 6–11 living with their HIV symptomatic or AIDS diagnosed mothers was conducted. Specifically, the relationship among mothers’ disease severity, maternal disclosure of HIV, and children’s psychological well-being was investigated. The children were assessed over three time points (i.e. baseline assessment, 6- month and 1-year follow-up). Two categories of maternal disclosure (disclosed before baseline, no disclosure at any of the three time points over 1-year), and two categories of disease severity (< 500 T-cell count across all assessments, 500+) were created. A series of 2 × 2 × 3 repeated measures MANOVAs was used to assess the effects of the maternal disclosure and disease severity across time on children’s psychological well-being. Results showed significant within-group time effects for child depression, suggesting a decrease in depression over time. Interaction results of time and maternal disclosure revealed only a few significant changes over time. However, significant decreases over time for child depression were noted among children whose mothers’ CD4 cell counts remained at 500+ across the three assessment periods. Implications for future research and for psychosocial needs of these families are discussed.