Introduction: Bullying among adolescents is a global public health issue prevalent in schools, posing significant risks to positive adolescent development. Studies have shown that bullied adolescents tend to engage in more bullying perpetration, but this underlying process of longitudinal correlation has not been fully elucidated. Methods: Based on two waves of longitudinal data collected from 347 junior and 144 senior high school students in China (M[subscript age] = 13.66 years, SD[subscript age] = 1.46, 59.27% boys) at 1-year intervals, two moderated chain-mediation models were used to explore the longitudinal correlations between bullying victimization and bullying perpetration and its underlying processes. Results: The results found a significant positive correlation between adolescents' bullying victimization experiences 1 year prior and bullying perpetration 1 year later. Furthermore, fear of negative evaluation and psychache played a longitudinal chain-mediating role in the process, with self-esteem and grade moderating this mediating pathway, either enhancing or weakening the effect. Conclusions: This study demonstrates that prior bullying victimization is longitudinally and positively associated with subsequent bullying perpetration among adolescents. This process is mediated by fear of negative evaluation and psychache, with self-esteem and grade level as moderators. Based on these conclusions, we have formulated the Threat-Motivation Model, offering a framework to understand the relationship between bullying victimization and bullying perpetration. Practical implications, including strategies to reduce bullying in youth groups, are discussed.