Depression is one of the most worrying diseases nowadays. The study had three main purposes: 1) to identify the prevalence of depressive symptomatology in 7–10 year olds, exploring differences according to gender and age; 2) to analyze the consistency between self-reports and teacher reports; and 3) to explore the relationship between depression and academic performance. Regarding the methodology, the sample comprised 420 students aged between 7 and 10 years from the Basque Country (53.3% boys, 46.7% girls). With a descriptive, comparative and correlational design, 4 assessment instruments were used. Results from the self-reports showed a depression rate fluctuating between 4.6% and 4.8% (clinically significant), and between 4.3% and 5% (moderate depression). However, prevalence rates from teacher reports varied between 0.2% and 3.6% (clinically significant) and between 4.6% and 7.7% (moderate depression). The consistency rate between self-reports and teacher reports was small. Differences according to gender varied depending on the instruments used and depression was higher in boys (BASC, d = .23; SPECI d = .36). Symptomatology did not increase with age. Depression correlated negatively with academic performance (self-reported depression: CDS-T r = –.12, SPECI r = –.17; depression reported by teachers: CDS-T r = –.24, SPECI r = –.50). The importance of training teachers to better identify child depression is discussed, as well as the relevance of developing prevention programs.