Although numerous reviews and meta-analyses have examined the effects of physical activity on cognition, no previous meta-analysis has comprehensively explored the role of contextual factors. In this systematic review, we examined the role of contextual moderators along with more commonly investigated individual (e.g., age) and physical activity-related moderators (e.g., intensity, type). A multilevel meta-analysis was applied to 171 chronic (654 effect sizes) and 68 acute studies (305 effect sizes) involving 48,625 participants from preschool to older adulthood. On average, small positive effects on cognition were found for participation in both chronic (g = 0.25, 95% CI [0.19, 0.31]) and acute physical activity (g = 0.21, 95% CI [0.12, 0.30]). Physical activity effects on cognition seem to be jointly moderated by contextual and physical activity-related factors. The largest effect sizes were depicted for chronic practice of outdoor physical activity of moderate-to-vigorous intensity (g = 0.63, 95% CI [0.41; 0.85]) and with high cognitive demand (g = 0.53, 95% CI [0.15, 0.91]), and for acute bouts of outdoor physical activity of moderate intensity (g = 0.71, 95% CI [0.42, 0.99]). These results may inform the design of future chronic and acute physical activity trials to foster a more comprehensive understanding of the intersection between multiple moderators. (PsycInfo Database Record (c) 2025 APA, all rights reserved).