Background/Objectives: Over the past decade, the popularity of smokeless tobacco products, particularly heated tobacco products (HTPs), has increased among adolescents and young adults. This study aimed to determine the effects of HTPs and conventional cigarettes on oral health and quality of life (QoL). Methods: This stratified cross-sectional study included 90 participants divided into three groups: conventional cigarette smokers (N = 30), HTP users (N = 30), and non-smokers (N = 30). Sociodemographic data and oral-medical status [salivary pH, halitosis, sialometric measurements, Decayed, Missing, Filled Teeth (DMFT) index, and oral lesions] were recorded for all participants. Results: There was no statistically significant difference in salivary pH, unstimulated whole saliva (UWS), or stimulated whole saliva (SWS) among the three groups (p = 0.343, p = 0.982, and p = 0.793, respectively). There was also no statistically significant difference in DMFT index values (p = 0.495) or total QoL (p = 0.856) among the groups. However, there was a statistically significant difference in halitosis among the groups (p < 0.0001), with moderate (40.0%, N = 12) and strong (33.3%, N = 10) halitosis most frequent among HTP users. There was no statistically significant difference in the incidence of pathological oral lesions among the groups (p = 0.112), with 63.3% (N = 19) among conventional cigarette smokers. Conclusions: HTP users exhibited a higher frequency of moderate and strong halitosis, while conventional cigarette smokers more frequently presented with smoker’s melanosis and lesions located on the hard palate.