This study examined the interrelationships of quality of life (QOL) of primary caregivers and their preschool children with very low birth weight (VLBW) and parenting stress. Primary caregivers of 118 VLBW and 170 non-VLBW children completed questionnaires. Structural equation modeling suggested that the QOL of the primary caregivers was directly related to parenting stress, and that parenting stress was directly related to the children's QOL. The aforementioned relationship did not differ between VLBW and non-VLBW groups. Targeting the QOL and parenting skills of the primary caregiver could also improve the QOL of the preschooler.