This study examined the association between positive youth development (PYD) and youth social and emotional difficulties, with a specific focus on the role of parental control as a developmental asset. We surveyed 141 youth (mean age= 15.15, %female= 47.5) and parent (mean age= 41.61, %female= 63.8) dyads and conducted hierarchical regression and moderation analyses. Youth with fewer difficulties had greater PYD, and greater levels of parental control were associated with greater PYD. In addition, an interaction effect highlighted the protective effect of parental control for PYD among youth with more peer problems. These findings demonstrate that parental control can be an important asset in supporting PYD and reducing the negative effect of some forms of youth social and emotional difficulties.