This study examines the impact of air pollution on parental investment in children's education using panel data from secondary schools in Shandong Province, China. The findings indicate that a one-unit increase in PM2.5 concentration leads to a 3.9 percentage point decrease in the probability of parental investment in children's education. The negative impact is mediated by factors such as educational expectations, financial considerations, and personal well-being. Additionally, the study suggests that education level and living area moderate the relationship between air pollution and educational investment. The results imply that air pollution can undermine human capital development by altering parental investment behavior due to environmental conditions. The study contributes to the literature by providing a new perspective on the toll of air pollution and exploring the role of parental behaviors in the negative impact on children's academic performance. The findings have implications for public policy, emphasizing the need for immediate attention to air pollution as a critical environmental issue.This study examines the impact of air pollution on parental investment in children's education using panel data from secondary schools in Shandong Province, China. The findings indicate that a one-unit increase in PM2.5 concentration leads to a 3.9 percentage point decrease in the probability of parental investment in children's education. The negative impact is mediated by factors such as educational expectations, financial considerations, and personal well-being. Additionally, the study suggests that education level and living area moderate the relationship between air pollution and educational investment. The results imply that air pollution can undermine human capital development by altering parental investment behavior due to environmental conditions. The study contributes to the literature by providing a new perspective on the toll of air pollution and exploring the role of parental behaviors in the negative impact on children's academic performance. The findings have implications for public policy, emphasizing the need for immediate attention to air pollution as a critical environmental issue.