Research on organizational justice demonstrates its consistent effect on employee organization‐based self‐esteem. However, little research considers how organizational justice affects employee organization‐based self‐esteem and when the relationship is attenuated. In an effort to extend the research regarding this particular relationship, we draw on social cognitive theory to suggest that supervisors’ perceptions of overall organizational justice trickle down to impact employees’ organization‐based self‐esteem. Specifically, we propose that supervisory ethical leadership mediates this relationship. We also examine the moderating influence of supervisor conscientiousness on this proposed trickle‐down effect. We analyze these relationships in a multisource field study and find support for the mediating effect of supervisory ethical leadership and the proposed moderated mediation model. Theoretical and practical implications are discussed.