Research on intergroup contact has recently begun to examine how individual differences moderate the reduction of prejudice. We extend this work by examining the moderating role of diversity beliefs, i.e., the strength of individuals’ beliefs that society benefits from ethnic diversity. Results of a survey among 255 university students in the United States show that the relationship between contact and reduced prejudice is stronger for individuals holding less favorable diversity beliefs compared to those with more positive diversity beliefs. Likewise, the relationship between contact and perceived importance of contact is stronger for people with less favorable diversity beliefs. Together with previously reported moderator effects, these results suggest that contact especially benefits people who are the most predisposed to being prejudiced.