Asians are the fastest growing racial/ethnic group in the United States, and although there is increasing research and attention on Asian American issues, Asians have previously been left out of many discussions surrounding race relations. This not only negatively impacts Asians and their racial identity development, but also can hinder progress towards racial justice. Previous research has demonstrated how awareness of anti-Asian discrimination (i.e., a similar experience) can lead to Asians forming a common ingroup identity with other racially minoritized groups, and consequently more positive attitudes and behaviors towards these groups. This study builds on this research by examining how the formation of a common ingroup identity may be dependent on Asians’ internalization of the model minority myth, and how the translation to behaviors of challenging anti-Black discrimination at work may be dependent on three different psychological mechanisms in decision-making (calculation-based, affect-based, and recognition-based). A moderated mediation model was tested using a two-wave panel study of 427 Asians working in the U.S., and results demonstrated support for the mediating effect of common ingroup identity on the relationship between perceived discrimination and the likelihood of challenging anti-Black discrimination at work. However, the proposed interactive effects were not supported, and although the results demonstrated a negative main effect of the internalization of the model minority myth on common ingroup identity, as well as main effects of outcome expectations, fear of retaliation, and psychological standing (positive, negative, and positive effects, respectively) on the likelihood of challenging anti-Black discrimination, these effects did not hold when tested with relevant covariates. These results support previous research on intraminority intergroup relations that highlights the importance of the formation of a common ingroup identity in creating more positive intergroup attitudes and behaviors, and provide additional insight into what factors may impact these relationships for Asians and how they perceive and respond to other racial groups.