This study was the first to investigate the prospective effects of failure mindsets on implicit theories of intelligence (ITI), whose profound effects on learning, motivation, and academic achievement have found increasing support. Participants were 240 Chinese university students (180 females, M = 19.13) who completed a baseline and a 1-year follow-up survey. The cross-lagged panel model supported the study’s hypothesis that students’ perception of their parents’ view of failure as debilitating at baseline predicted their own failure-is-debilitating mindset and entity theory of intelligence at follow-up. However, students’ failure-is-debilitating mindset at baseline did not predict their entity theory of intelligence at follow-up. A reciprocal relationship was found between students’ perception of their parents’ failure-is-debilitating mindset and their entity theory of intelligence. We recommend programs be implemented to educate parents of the value of failure and how their conveying positive views of failure can be constructive to students’ trajectory of learning and intellectual growth.