There has been limited research on how race affects the type of psychiatric diagnoses children receive. This is an investigation of how race affects children receiving specific psychiatric diagnoses (anxiety, depression, ADHD, conduct disorder, oppositional defiant disorder). The research specifically examines whether White children receive more benign diagnoses (anxiety, depression) and whether Black children receive more stigmatizing diagnoses (ADHD, CD, ODD). It includes an examination of whether socio-economic, structural and healthcare access and utilization variables explain these differences. Two datasets, Medical Expenditure Panel Survey (MEPS) and the National Health Interview Survey (NHIS), are used to examine these racial differences in psychiatric diagnoses. It was found that White children are more likely to receive the more benign, internalizing disorder diagnoses and Black children were more likely to receive the more stigmatizing, externalizing diagnoses. While the bivariate examinations found that Black children were more likely to come from more disadvantaged positions (lower family incomes and parental educational levels, and larger families) than White children, the regression models did not find that they had a statistically significant impact on the type of diagnosis children received. The healthcare access and utilization variables examined in these analyses also did not explain the racial differences in diagnosis.