In order to examine whether campus exclusion mediated the relationship between impulsivity trait and suicidal ideation, and whether this mediating effect was moderated by sense of life meaning, the present study was conducted by 633 senior school students in Liaoning province with adopting four anonymous questionnaires, namely Barratt Impulsiveness Scale, Campus Exclusion Inventory for Adolescents, Meaning in Life Questionnaire, and Suicide Ideation Scale. The results demonstrated that: 1) Impulsivity trait positively predicted to suicidal ideation among high school students. 2) Campus exclusion played a partial mediating role in the association of impulsivity trait and suicidal ideation among high school students. 3) The mediating effect of impulsivity trait on high school students’ suicidal ideation was moderated by sense of life meaning. Specifically, with the increase of the sense of life meaning, the effect of campus exclusion on suicidal ideation gradually weakened. These results suggest that impulsivity trait can facilitate the intensity of high school students’ suicidal ideation through campus exclusion, and the sense of life meaning can effectively buffer the negative impact of campus exclusion on suicidal ideation.