The purpose of this study was to examine the association between perceived and actual movement skill competence among primary school children in Hong Kong. Participants were 568 primary (P) school children (229 boys, 339 girls; M age = 9.3 years, SD = 1.7). Children’s perceived skill competence was assessed using an identical format to that of Harter’s Self-Perception Profile for Children in the same 12 fundamental movement skills (FMS) objectively measured. The actual locomotor and object control skills were assessed using the Test of Gross Motor Development (2nd edition). Pearson’s correlation coefficients were calculated to examine the association between children’s perceived and actual movement skill competence separately for lower (P1–P3) and upper (P4–P6) grades. There was no association between students’ perceptions and actual FMS scores. MANCOVA results indicated that children in upper grades had significantly lower skill perceptions than their younger counterparts. Overall, boys had higher perceptions of object control skill than girls did. The findings indicate that many primary school children have inaccurate perceptions of their FMS competence. These misperceptions may lead to low self-confidence and to gradually opting out of sport and physical activity.