The present study examined the relationship between anxiety and depression, on the one hand, and reduced evidence for danger (RED) bias and other threat perception abnormalities, on the other hand. A nonclinical sample of school children (N = 138) completed a brief measure of childhood anxiety and depression symptoms and were then exposed to a series of pictures taken from projective tests. Results showed that (a) anxiety was accompanied by RED bias and other threat perception abnormalities, (b) depression was less convincingly associated with such cognitive distortions, and (c) anxiety-related threat perception abnormalities were not merely the result of a stronger tendency to give affirmative responses. The role of threat perception abnormalities in the pathogenesis of childhood anxiety as well as the clinical implications of these cognitive phenomena are briefly discussed.