Previous research indicates that self-disgust partially mediates the relationship between dysfunctional cognitions and depression. However, as self-disgust is only a partial mediator, other variables are also likely to mediate this relationship. One potential variable is self-esteem, which has consistently been linked to depression in the literature. Hence, the current study aimed to examine whether self-disgust and self-esteem both mediate the relationship between dysfunctional cognitions and depression. Measures of self-disgust, self-esteem, dysfunctional cognitions and depression were completed by a non clinical sample of 120 participants. Self-disgust and self-esteem were found to be conceptually distinct constructs and both constructs were found to be partial mediators of the relationship between dysfunctional cognitions and depression: a finding which generalised across two measures of depression. The important mediational role of emotions in the development of depression needs to be taken into account in therapeutic practice.