Background/Objectives: Pediatric critical illness constitutes a highly stressful event not only for the critically ill child but also for the broader family unit. Recognizing and addressing these family-level effects is essential to optimizing outcomes for PICU survivors. Methods: This prospective observational cohort study examined anxiety and depression in parents of pediatric ICU patients prior to PICU discharge using the Hospital Anxiety and Depression (HADS) scale, and again after 30 days. At follow-up, parents were also screened for post-traumatic stress symptoms (PTSS) using the Impact of Events (IES) scale. Parent demographics and characteristics of the child's hospitalization were collected. Results: 235 parents enrolled and completed a HADS; 126 parents (54%) subsequently completed a follow-up HADS and IES. 50% of parents screened positive for anxiety and/or depression prior to discharge; 44% of parents demonstrated anxiety, depression, and/or PTSS on follow-up screening. A positive HADS prior to discharge was the only independent predictor of persistent psychological symptoms. Conclusions: Parental psychological distress is both common and persistent following a child's PICU admission. Screening at discharge is a feasible method to identify families at the highest risk for enduring anxiety, depression, and post-traumatic stress symptoms.