The purpose of this study was to investigate the association between body mass index (BMI) status and physical performance in Brazilian children. The analyzed sample was composed of 978 children of both sexes (518 boys and 460 girls), aged 7 to 11 years. BMI and skinfolds were measured, and three motor tests were applied (flexibility, cardiorespiratory fitness, and muscular strength/endurance). In both sexes, overweight/obese children presented poor performance in all motor tests, except flexibility. In general, overweight/obese children have an increased odds ratio (OR) to present poor physical performance (boys: OR = 3.64 for cardiorespiratory fitness, OR = 1.94 for muscular strength/endurance, OR = 1.52 for flexibility; girls: OR = 5.03 for cardiorespiratory fitness and OR = 2.62 for muscular strength/endurance). In conclusion, for both sexes, a poor physical performance in the tests measuring cardiorespiratory fitness and muscular strength/ endurance was associated with the presence of overweight/obesity.