Biological maturation has an increasingly important role in youth sports. The aim of the study was to evaluate the relationship between dynamic balance and lower limb power and biological maturation in young football players. Seventy-two healthy, young male elite football players (age: 10 ± 2) participated in the study. Dynamic balance was assessed using a modified Star Excursion Balance Test (mSEBT). Power of the lower limbs was examined by a Countermovement Jump test (CMJ) and Single Leg Hop for Distance (SLHD). Furthermore, anthropometry and biological maturation (age, peak height velocity, and maturity offset) were assessed. There was a strong positive correlation between vertical jump (r = 0.75), distance long jump (r = 0.84), and biological maturation. A moderate positive correlation was found between dynamic balance (mSEBT COM, PL, and PM) and maturity offset. There was a significant association between mSEBT, CMJ, and SLHD (p < 0.05). Moreover, maturity offset explained 75% of vertical jump and 74% of distance long jump performance, respectively, and 12% of dynamic balance. Biological maturation should be considered when assessing athletic performance, establishing rehabilitation, and sports training in youth football players.