This study examines the influence of leader-member exchange (LMX) on employee organizational identification and job satisfaction. Drawing upon the current literature of social identity theory, we propose a moderated mediation model with organizational identification as the mediator of the relationship between LMX and job satisfaction, and job security as the moderator on such positive indirect link of LMX—organizational identification—job satisfaction. We tested our hypotheses using a two-phase survey data collected from 306 employees of two companies in Southern China. Implications of our findings for research and practice are discussed.