Introduction: The Challenge and Hindrance Stress Framework is an influential theoretical model for measuring individuals' perceptions of stress. However, its structure has not been validated among Chinese adolescents, and the effects of different forms of stress on their short-term and long-term outcomes remain unclear. Methods: Study 1 validated the Student Version Challenge and Hindrance Stress Scale with a sample of 3,376 adolescents in China (Time 1, September 2023, M[subscript age] = 14.57, SD = 1.46). Studies 2a and 2b extended Study 1 by analyzing cross-sectional and longitudinal data from 1,083 participants in China (Time 2, March 2024, M[subscript age] = 14.32, SD = 1.01) to examine the effects of various forms stress on academic performance and depression, with cognitive emotion regulation strategies used as mediators. Results: The results showed that adaptive strategies mediated the positive effects of challenge stress on academic performance and depression, whereas maladaptive strategies mediated the negative impacts of challenge or hindrance stress on depression. Conclusion: These findings emphasize the importance of distinguishing stress forms, offering insights for educators, researchers, and policymakers to enhance adolescent well-being and performance.