Using nationally representative Canadian data (n = 92,362), we examined potential racial diversity in the association of physically active leisure participation with well-being. Although there was a direct association of physically active leisure participation with both physical health and mental health, the nature of these associations differed for the White racial group compared to several other racial groups. More specifically, greater physically active leisure participation was associated with better self-rated health for White Canadians, but this association was weaker for Chinese, South Asian, Southeast Asian and Pacific Asian Canadians, and those who identified as other or multiple racial identity. Similarly, greater physically active leisure participation was associated with better mental health for White Canadians, but this association was weaker for those who identified as Black, Chinese, South Asian and Pacific Asian Canadians. Results are discussed in terms of leisure constraints and a potential deficit in how leisure activities are measured with a diverse population.