This study investigated the role of parental mediation strategies employed by parents in Saudi Arabia as a preventive factor against adolescents’ engagement in cyberbullying and cybervictimization within social media. It also examined the role of age, gender, and educational level of parents as moderators. Using an online survey, the sample consisted of 389 parent participants and their adolescent child, aged between 12 and 17. Results show that active, restrictive, and internet safety mediation strategies significantly predict a decrease in cyberbullying and cybervictimization, while a technical mediation strategy significantly predicts an increase. Results also show that parents’ age moderates the relation between active and internet safety mediation and adolescents’ engagement in cyberbullying. Parental gender also did not moderate the relation between parental mediation strategies and adolescents’ engagement in cyberbullying and cybervictimization, whereas parents’ educational level moderates the relation between restrictive, monitoring, and technical mediation strategies and adolescents’ engagement in cyberbullying.