Background: Preschool is a crucial period for developing motor skills. Objective: This study evaluated factors associated with motor competence in preschoolers from a Brazilian urban area. Methods: A total of 211 preschoolers (51.2% girls and 48.8% boys) were evaluated. Body mass index was calculated; the Brazilian Economic Research Criterion, the Mini-Mental Scale (MMC) and the Early Childhood Environment Rating Scale®, Revised (ECERS-R™) were applied; the Habitual Physical Activity time was recorded; the Test of Gross Motor Development (TGMD-2) was performed. Univariate analysis was performed using simple linear regression for the independent variables, considering the motor test subscales as dependent variables. Variables with p < 0.20 in the univariate analysis were considered for the multiple linear regression model and were entered into the stepwise method. Results: The independent variables remaining in the Standard Score Locomotor model were BMI, presence of park at school, and MMC (R[superscript 2] = 0.16). The independent variables remaining in the Standard Object Control score were MMC and gender (R[superscript 2] = 0.03). The variables associated with the highest scores of Gross Motor Quotient were MMC, body mass index, and presence of a park at school, respectively (R[superscript 2] = 0.11). Conclusions: Male eutrophic preschoolers who are physically active and attend schools with parks or courtyards in a Brazilian urban area have the highest scores for global cognitive function and motor competence.