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The present study aims at presenting psychometric properties, factor structure, and convergent validity of the German version of the Parent Rated Life Orientation Test of Children (PLOT) to measure optimism and pessimism in 4- to 6-year old children. Parents of 145 preschool children (77 girls; Age: M = 5.0, SD = 0.6 years) rated the children's optimism and pessimism as well as their emotion regulation. Moreover, the children's problem behavior (parent and caregiver report) was assessed. In agreement with studies on school children and adolescents, a two-dimensional structure with an optimism and a pessimism factor could be revealed. Consistent with theoretical reasoning results indicate relations of optimism/pessimism with problem behavior and emotion regulation. The reported reliability and validity of the PLOT point at its applicability in preschool children. The new measure may contribute to a better understanding of dispositional optimism and pessimism among preschoolers and can be useful as a screening instrument to identify children at risk.