Background: Walking and bicycling (active commuting) to school may be a useful strategy to increase the daily amount of physical activity, and, potentially, improve children's health. However, it is unclear whether active commuting to school (ACS) has the potential to improve physical health and cognitive performance in children. Our aim was to examine the relationship between ACS with adiposity indicators, physical fitness, and cognitive performance in 4- to 7-year-old children. Methods: We conducted a cross-sectional study with 1159 children from the provinces of Cuenca and Ciudad Real, Spain. ACS was self-reported by parents. Adiposity (body mass index, waist circumference, body fat mass, and triceps skinfold thickness) and physical fitness (cardiorespiratory and muscular fitness) were measured by standard procedures. Cognitive performance was assessed using the Battery of General and Differential Aptitudes. Data analysis included analysis of covariance. Results: We found no differences in adiposity, physical fitness, and cognitive performance between active commuters and nonactive commuters. Conclusions: Walking to school had no positive impact on adiposity, physical fitness, and cognition in 4- to 7-year-old children. Future studies should examine the intensity and duration of walking to school needed to provide benefits in health and cognitive performance.