Objective: This study sought to examine the correlation between physical activity levels and various psychological and nutritional factors associated with the risk of developing eating disorders among female university students in the Health Sciences discipline. Method: The study assessed body image, self-esteem, nutritional status, adherence to the Mediterranean diet, and attitudes toward food in a sample of 96 women, categorized into two groups based on their level of physical activity. Results: Significant differences in skeletal muscle mass were identified between the groups, alongside associations between body dissatisfaction, low self-esteem, and elevated EAT-26 scores. Furthermore, students with higher levels of physical activity exhibited a significantly increased prevalence of eating disorder risk. Logistic regression analysis identified body dissatisfaction as a significant predictor of eating disorder risk, while membership in the group with the highest physical activity levels enhanced model fit and increased eating disorder risk. Conclusions: These findings indicate that, while physical activity is associated with certain benefits related to body composition and eating habits, it may also be linked to a heightened risk of disordered eating behaviors, contingent upon the underlying motivations and body perceptions involved. This study highlights the necessity for comprehensive preventive strategies that address both the physical and psychological dimensions of physical activity in female university students.