This study was conducted to identify the relationship between body fat percent/serum lipid level and obesity index among school children. The study subjects were 277 boys and 266 girls aged between 10 and 11 years old in a selected elementary school in Taegu City. The survey was conducted for the period of two months from May 1 to June 30, 1993. A $R{\ddot{o}}hrer$index(weight/height3) was calculated for each individual as a measure of obesity. Three groups were classified as underweight($R{\ddot{o}}hrer$ index < 109), normal($109{\leq}$ $R{\ddot{o}}hrer$ index < 140), and overweight ($R{\ddot{o}}hrer$ index ${\geq}140$). As for the body fat percent, fat weight, lean body mass were measured by impedance fat, meter(Model SIF-891). Serum total cholesterol. high-density lipoprotein, and triglyceride were measured by automated clinical chemistry analyzer(Astra system). Obesity was found 18.1% in boys and 14.7% in girls. Body weight, fat percent, fat weight, and lean body mass were significantly different among three groups classified by $R{\ddot{o}}hrer$ index in both sexes. Serum total cholesterol, triglyceride, atherogenic index and T-CHO/HDL ratio were also significantly different among three groups in both sexes. Serum total cholesterol, low-density lipoprotein, trigylceride, atherogenic index of boys were positively correlated with height, weight. $R{\ddot{o}}hrer$ index, fat weight, lean body mass, and triglyceride. The negative correlation was found in high-density lipoprotein against height, weight, Rohrer index, fat percent, fat weight, lean body mass. Triglyceride and atherogenic index of the girls were positively correlated with height, weight, $R{\ddot{o}}hrer$ index, fat percent, fat weight, lean body mass. The negative correlation was found in high-density lipoprotein against height, weight, $R{\ddot{o}}hrer$ index, fat percent, fat weight, lean body mass. These findings suggest that the prevention of obesity and hyperlipidemia among school children is very important. Thus adoption of healthy life-style is strongly recommended in school health programs in order to prevent the obesity and hyperlipidemia.