Aims: To establish the frequency of dyslipidemia in obese Israeli children and adolescents and its association with other cardiovascular disease (CVD) risk factors. Methods: Files of 262 patients (5.1–18.8 years) with BMI >95th percentile for age and gender were reviewed for anthropometric and biochemical parameters of CVD risk. Dyslipidemia and hypertension were defined as cut-off point ≧95th percentile of healthy children. Results: Compared to patients with normal lipid profile, dyslipidemic patients (n = 71) had significantly higher prevalence of fatty liver (p < 0.001), higher percent body fat (males, p = 0.044), and higher C-reactive protein (females, p = 0.001). There was no significant difference in age, BMI-SDS, or familial CVD-related disorders. The hypertensive patients (n = 137) were significantly older than the normotensive patients (p < 0.001), had higher percent body fat (p = 0.008), larger waist circumference (p < 0.001), and higher HOMA-IR (p < 0.001). There were no significant between-group differences in BMI-SDS. The most significant factors associated with CVD risk were waist circumference and insulin level. Conclusions: Obese Israeli children have high rates of CVD risk factors, most of them unrelated to BMI-SDS or age. Therefore, we recommend screening for them in obese children with increased waist circumference of any age to detect those who require more intense interventions.