This study aimed to examine the association between problematic social media use (PSMU) and depressive symptoms among university students in Indonesia and to test whether social media envy statistically mediates this association. A total of 326 undergraduate students in Surabaya, Indonesia, participated in the study and completed the Bergen Social Media Addiction Scale, Social Media Envy Scale, and Patient Health Questionnaire-9. The data were analyzed using path analysis to examine the direct and indirect associations among the variables. The results showed that PSMU was positively associated with social media envy (B = .463, SE = .057, 95% CI [.351, .575], z = 8.09, p < .001). Social media envy was also positively associated with depressive symptoms after accounting for PSMU (B = .362, SE = .052, 95% CI [.261, .463], z = 7.03, p < .001). In addition, PSMU remained positively associated with depressive symptoms after accounting for social media envy (B = .486, SE = .058, 95% CI [.371, .600], z = 8.31, p < .001). The indirect association between PSMU and depressive symptoms through social media envy was also statistically significant (B = .168, SE = .032, 95% CI [.105, .231], z = 5.31, p < .001), indicating partial statistical mediation. These findings suggest that social media envy represents one indirect psychological pathway that is statistically associated with the relationship between problematic social media use and depressive symptoms. Given the cross-sectional design, these findings should not be interpreted as evidence of causality. The results suggest that efforts to promote university students’ mental health may consider not only problematic patterns of social media use but also the emotional responses that emerge during social media engagement.