This study examined correlates of objectively measured physical activity (PA) in a diverse sample of preschool children (age 3–5 years; n = 331). Accelerometer min·hr⁻¹ of moderate-to-vigorous physical activity (MVPA) and nonsedentary activity (NSA) were the outcome measures. Correlations among potential correlates and PA ranged from r = −0.12−0.26. Correlates in the final MVPA model were age, race, sex, BMI Z score, and parent perception of athletic competence, explaining 37% of the variance. The NSA model included the latter two variables, explaining 35% of the variance. Demographic factors were correlates of PA; parent perceptions of children’s competence may be important regarding preschoolers’ PA.