Background: In volleyball, the upper limb dimensions and grip strength greatly influence offensive and defensive movements during a match. However, the relationship between these parameters remains underexplored in elite female volleyball players. Objective: This study aimed to contrast the upper limb anthropometric characteristics and handgrip strength (HGS) of female elite volleyball players against a control group. Methods: Selected upper limb anthropometric parameters and maximal HGS of 42 female volleyball players and 40 non-athletes were measured. Results: Players exhibited higher values in almost all variables studied than non-athletes. The differences were statistically significant (p < 0.001) except for body mass index and elbow and wrist diameters. Players showed a moderate correlation between dominant HGS and hand parameters (length r = 0.43 and breadth r = 0.63; p < 0.05). Weak correlations were identified with height, upper arm length, elbow diameter, and hand shape index (r = 0.32 to 0.38; p < 0.05). In the non-dominant hand, a moderate correlation with handbreadth (r = 0.55, p ≤ 0.01) and weak correlations with upper arm length, wrist diameter, hand length, and hand shape index (r = 0.32 to 0.35; p ≤ 0.05) was found. Conclusions: These findings underscore the importance of the upper limb anthropometric parameters as predictors of HGS and their utility in athlete selection. Future research should investigate biomechanical factors influencing HGS and injury prevention.