Sexual violence among adolescents represents a significant problem in society. In this study, we aimed to examine risk factors for sexual violence perpetration in adolescent men and victimization in adolescent women among a community sample of Norwegian high school students. The participants (560 men and 751 women, aged between 16 and 21 years) responded to online questionnaires covering physical and non‐physical forms of sexual harassment and possible risk factors identified in the literature. Last year's prevalence rate of physical sexual perpetration reported by adolescent men was 7%. Comparably, the prevalence of physical sexual victimization reported by adolescent women was 30%. Path analyses suggest that sociosexuality was associated with adolescent men's sexual perpetration indirectly through sexual risk taking, alcohol intoxication, porn exposure, and sexual underperception that in turn was positively associated with undesirable non‐physical solicitation from and toward women. In addition, rape stereotypes were associated with perpetration behavior in adolescent men. For adolescent women, sociosexuality was associated with being sexually victimized primarily through sexual risk behavior, alcohol intoxication, and sexual overperception. These factors were again positively associated with sexual derogation from adolescent women and solicitation from adolescent men. Prior sexual abuse victimization was only indirectly associated with victimization. The factors associated with adolescent men's perpetration and adolescent women's victimization were highly similar. Future work aimed at reducing sexual violence in adolescence within the educational context might find it more effective to specifically target non‐physical forms of sexual harassment.