Bullying is a kind of aggressive behaviors that involve a pattern of behavior repeated over time and an imbalance of power or strength. Bullying is also a common experience among adolescents. The involvement in campus bullying, no matter of being the bully, the victim, or the bystander, has negative impacts upon the adolescents. The purpose of this study aims to investigate the associations among the experience of campus bullying, moral disengagement, and life satisfaction of adolescents. Drawing data from the 2017 Taiwan Communication Survey (TCS), this study obtains the following findings: 1. Adolescents as bullies and bystanders have higher levels of moral disengagement; 2. Adolescents with experience of campus bullying have lower levels of life satisfaction; 3. The adolescents who had more experience of campus bullying in the past year report higher levels of moral disengagement and lower levels of life satisfaction; 4. The effects of experience of being bullied on moral disengagement are moderated by both experience of bully and experience of bystander. Overall, the findings in this study are important in practical implications. To meet the goal of reducing the adolescents’ intention of moral disengagement toward school campus and preventing the occurrence of campus bullying, developing the programs to enhance their empathy concerning victims is an important and feasible strategy.