We investigated changes in youths’ intentions to quit school after following a group-based cognitive behaviour therapy (CBT) based intervention for depressed adolescents in upper secondary school: the Adolescent Coping with Depression Course (ACDC). Data were collected from 228 youths, 133 of whom received the 14-week ACDC intervention and 95 who received usual care (UC). Structural equation models showed that symptoms of depression at post-test positively predicted intention to quit school at six-month follow-up after the intervention ended (β = .291, p < .001). Furthermore, ACDC, which showed a decrease in depressive symptoms post-test, had an indirect effect on adolescents’ intention to quit school at six-month follow-up (indirect β = −0.117 p = .018). Hence, targeting depression and implementing effective preventive programmes may prevent dropout from upper secondary school. Such interventions should thus be investigated in future studies.