This study assessed the effects of intrauterine growth restriction and risk factors for intrauterine growth restriction on blood lipids in adolescents from the 1982 birth cohort in Pelotas, Rio Grande do Sul State, Brazil. All male subjects were identified in 2000 when enrolling in the national army; 79% (n = 2,250) were interviewed, and 2,089 provided blood samples. The following outcome variables were studied: total cholesterol and fractions (VLDL, LDL, and HDL), non-HDL cholesterol, LDL/HDL ratio, and serum triglycerides. The explanatory variables were intrauterine growth restriction, maternal pre-gestational body mass index (BMI), and maternal smoking during pregnancy. After adjusting for confounding variables, total, LDL, and non-HDL cholesterol levels were slightly and significantly higher among adolescents whose mothers were in the 3rd and 4th quartiles of pre-gestational BMI. However, these associations disappeared after adjusting for the adolescent's diet, schooling, and BMI. Other associations were not significant (p > 0.05).