This study aimed to examine the effects of school bullying victimization and perpetration experiences on adolescents’ suicidal ideation and further aimed to investigate the potential moderating effects of shame proneness in these relationships. Four-hundred-and-seventy middle school students from Seoul and Gyeong-gi provinces participated in the research by filling out a packet of questionnaires their measuring school bullying victimization and perpetration experiences, suicidal ideation, and shame proneness. The correlation analysis showed that victimization and perpetration experiences in school bullying are all positively correlated with adolescents’ suicidal ideation. Furthermore, victimization and perpetration experiences are positively correlated with adolescents’ shame proneness, and shame proneness is also positively correlated with adolescents’ suicidal ideation. To test the moderation effects, multiple regression analyses hierarchically entering victimization and perpetration experiences, shame proneness, and their interaction terms were conducted. The moderation of shame proneness was found both in the relationship between victimization experiences and suicidal ideation and in the relationship between perpetration experiences and suicidal ideation. Specific interaction patterns in each of these significant interaction effects were examined and the clinical implications of the research findings were discussed.