AbstractPeer mentorship shows promise as a strategy to support veteran mental health. A community–academic partnership involving a veteran‐led nonprofit organization and institutions of higher education evaluated a collaboratively developed peer mentor intervention. We assessed posttraumatic stress disorder (PTSD), postdeployment experiences, social functioning, and psychological strengths at baseline, midpoint, and 12‐week discharge using the PTSD Checklist for DSM‐5 (PCL‐5), Deployment Risk and Resilience Inventory–2, Social Adaptation Self‐evaluation Scale, and Values in Action Survey. Brief weekly check‐in surveys reinforced mentor contact and assessed retention. The sample included 307 veterans who were served by 17 veteran peer mentors. Mixed‐effects linear models found a modest effect for PTSD symptom change, with a mean PCL‐5 score reduction of 4.04 points, 95% CI [−6.44, −1.64], d = 0.44. More symptomatic veterans showed a larger effect, with average reductions of 9.03 points, 95% CI [‐12.11, ‐5.95], d = 0.77. There were no significant findings for other outcome variables. Compared to younger veterans, those aged 32–57 years were less likely to drop out by 6 weeks, aORs = 0.32–0.26. Week‐by‐week hazard of drop‐out was lower with mentors ≥ 35 years old, aHR = 0.62, 95% CI [0.37, 1.05]. Unadjusted survival differed by mentor military branch, p = .028, but the small mentor sample reduced interpretability. Like many community research efforts, this study lacked a control group, limiting the inferences that can be drawn. Continued study of veteran peer mentorship is important as this modality is often viewed as more tolerable than therapy.