Introduction: Inconsistent associations of leptin and adiponectin with bone mineral characteristics in puberty and adolescence have been reported. We aimed to examine the associations between leptin to adiponectin ratio (LAR) in puberty and bone mineral characteristics at the age of 18 years in healthy males. Materials and methods: 88 white Caucasian boys were investigated at T1 (mean age 12.1 years), T2 (14.0 years) and T3 (18.0 years). Serum leptin and adiponectin were measured and LAR was calculated at T1, T2 and T3, bone mineral density (BMD) and bone mineral apparent density (BMAD) for total body and lumbar spine (LS) at T1 and T3. Spearman correlation coefficient and partial correlation analyses were used to describe the associations between mean pubertal LAR and BMD at T3. Results: Mean pubertal LAR was negatively correlated with both LS BMD (r = −0.23; P