This paper introduces an approach for classifying adolescents suffering from MDD using resting-state fMRI. Accurate diagnosis of MDD involves interviews with adolescent patients and their parents, symptom rating scales based on Diagnostic and Statistical Manual of Mental Disorders (DSM), behavioral observation as well as the experience of a clinician. Discovering predictive biomarkers for diagnosing MDD patients using functional magnetic resonance imaging (fMRI) scans can assist the clinicians in their diagnostic assessments. This paper investigates various static and dynamic connectivity measures extracted from resting-state fMRI for assisting with MDD diagnosis. First, absolute Pearson correlation matrices from 85 brain regions are computed and they are used to calculate static features for predicting MDD. A predictive sub-network extracted using sub-graph entropy classifies adolescent MDD vs. typical healthy controls with high accuracy, sensitivity and specificity. Next, approaches utilizing dynamic connectivity are employed to extract tensor based, independent component based and principal component based subject specific attributes. Finally, features from static and dynamic approaches are combined to create a feature vector for classification. A leave-one-out cross-validation method is used for the final predictor performance. Out of 49 adolescents with MDD and 33 matched healthy controls, a support vector machine (SVM) classifier using a radial basis function (RBF) kernel using differential sub-graph entropy combined with dynamic connectivity features classifies MDD vs. healthy controls with an accuracy of 0.82 for leave-one-out cross-validation. This classifier has specificity and sensitivity of 0.79 and 0.84, respectively.