The present study aimed to determine the prevalence of hyperlipidemia and its associated factors in the students of the Faculty of Health of Universidad Santiago de Cali in 2017. A descriptive cross-sectional study was performed in a sample of 361 students, with an average age of 21 (16–40) years. A sociodemographic survey was conducted, and blood samples and lipid profiles were obtained. The participants were predominantly female (77%), single (92.5%), and young adults (62.3%) and with an average socioeconomic level (55.1%). The overall prevalence of hyperlipidemia was 33.8%, with the following risk values: triglyceride (TG), 12.8%; hypercholesterolemia, 16.1%; high density lipoprotein cholesterol (cHDL), 15.0%; and low-density lipoprotein cholesterol (cLDL), 42.2%. Using the theory of the logistic regression models and chi-square likelihood ratio tests, the factors that were significantly associated with the risk of hyperlipidemia were male sex and consumption of alcoholic beverages (P-value < 0.05). In the two-way ANOVA, it was observed that the interaction of these two factors for TG was significant (P-value < 0.05), being higher in men who consume intoxicating beverages (Tukey's test, P value <0.05). Regarding cHDL and cLDL, only sex presented a significant effect on their values (P-value < 0.05), while for total cholesterol, none was significant (P-value > 0.05). The results obtained indicate the importance of early detection of blood lipid levels in young people to prevent the early development of noncommunicable diseases.