Pediatric panic symptoms are associated with functional impairments such as school refusal and are highly co-morbid with other psychological problems. Trauma exposure and panic symptoms have been linked, although this relationship is not well understood in children and adolescents. It was hypothesized that anxiety sensitivity (AS; fear of anxiety-related arousal) would mediate the relationship between hurricane exposure and panic symptoms and that the relationship between anxiety sensitivity and panic would be strongest among females. Data were collected from youth living in the New Orleans area at two time points following Hurricane Katrina (5-8 months and 17-18 months afterwards). At time one (T1), AS predicted panic symptoms beyond hurricane exposure. Anxiety sensitivity moderated the relationship between hurricane exposure and panic at T1. AS at T2 predicted panic symptoms at T2 beyond hurricane exposure, T1 panic, and AS at T1. Results extend knowledge in the area of pediatric trauma responses and raise new possibilities to be investigated by future researchers and clinicians