The main and interactive effects of pubertal status and emotional reactivity to bodily sensations elicited by a voluntary hyperventilation challenge were examined in relation to panic symptoms and self- and parent-reported somatic complaints among 123 (56 females) adolescents between the ages of 12 and 17 years (M(age) = 15.05; SD = 1.50). As expected, after controlling for baseline anxiety, age, and gender, there was a significant interaction between pubertal status and challenge response in predicting the outcome variables. Specifically, adolescents reporting more advanced pubertal status and greater reactivity to the challenge evidenced greater levels of panic symptoms and somatic complaints, whereas pubertal status had relatively less of an effect on these variables among adolescents who did not respond as fearfully to the challenge. Results are discussed in terms of extant theory and research on anxiety vulnerability among adolescents.