Bullying victimization can undermine adolescents' well‐being. However, few studies have comprehensively investigated the contributions of various victimization forms to well‐being and compared which forms were more harmful than others. Evidence on whether resilience and social support moderate such associations is also limited. Using a sample of 12,058 Chinese adolescents in the Programme for International Student Assessment (PISA) 2018, this cross‐sectional study aimed to (1) investigate the associations of physical, verbal and relational victimization with well‐being; (2) compare the strengths of these associations; and (3) examine the moderating roles of resilience and teacher and parent support in these associations. Results showed that three victimization forms were associated with poorer well‐being. Relational and physical victimization were more harmful to most studied well‐being outcomes than verbal victimization. Furthermore, resilience weakened the negative effects of physical victimization on negative affect and life satisfaction but aggravated the negative effects of verbal victimization on both outcomes and the negative effect of relational victimization on school belonging. Teacher support intensified the negative effects of physical victimization on school belonging. Parent support was not effective in regulating the victimization–well‐being association. The findings underscored the detrimental effects of bullying victimization on adolescents' well‐being and the potentially harmful sides of resilience and social support. Implications for bullying prevention were discussed.