Background and Objective: School-age children bullied by their peers, about one-third of all, are at risk of developing symptoms of anxiety, depression, and stress. Professionals’ role in prevention is to raise community awareness of the common health and behavioural characteristics of children involved in bullying and design effective interventions. The study aimed to examine the prevalence of participation in bullying once and multiple times and the association of school-age children’s involvement in bullying with health characteristics, risk factors, and leisure activities. Methods: A secondary analysis of the original data from the 2017 Health Behaviour in School-aged Children Study, covering 3267 children from 64 primary and high schools in Serbia, included the multivariate regression analysis. Results: Compared to their counterparts, children participating in bullying at least once were more likely to feel everyday stomach pain, irritability or bad mood, and nervousness by 1.46, 1.58, and 1.58 times, respectively. However, those involved in multiple bullying were more likely with daily stomach pain, back pain, nervousness, and dizziness by 1.16, 1.62, 1.82, and 1.70 times, respectively. Children who reported watching TV or other media for five or more hours per day and were drunk two-three times, or four or more times in life, were 2.34, 1.53 and 1.74 times, respectively, more likely to be involved in bullying at least once. Those who had nightly meetings or reported being drunk four or more times in the last 30 days and reported playing games five or more times per day were more likely to be involved in multiple bullying by 2.54, 3.47, and 2.70 times, respectively. Conclusions: Early identification of specific health symptoms in the pediatric population is needed. Interventions aimed at reducing alcohol abuse among school-age children should integrate training for health professionals and families of schoolchildren.