Bullying victimization has been shown to negatively impact academic achievement. However, under certain circumstances, levels of academic achievement might also be a cause of bullying victimization. Previous research has shown that at least in Western countries, high school engagement is connoted by students as un-masculine. Therefore, high school engagement and achievement in school violate boys’, but not girls’, peer-group norm. This might put high-achieving boys at higher risk of bullying victimization as compared to high-achieving girls. The present study investigated boys’ and girls’ risk of bullying victimization, depending on different achievement levels. To this end, representative data of N = 3928 German fourth grade students were analyzed. Results showed that boys among the top-performers and also boys among the worst performers had a markedly higher risk of being bullied than girls showing the same achievement, whereas there were no such risk differences between genders in the average achievement groups. The relation between academic achievement and bullying victimization, features with regard to gender, and directions for future research are discussed.