Background: Research indicates a relationship between nutrition, physiological characteristics, and mental health. It was already reported that Israeli-Arab adolescents consume more fast food, sweets, and candies than Jews. Higher energy drink consumption by Israeli-Arab adolescents emerged. Though, data on the topic still needs to be updated. The current study examined possible associations between energy drink consumption, anxiety, and well-being in Israeli-Arab adolescents. We also investigated these associations concerning fast food consumption, physical activity, and sleep hours. Methods: One hundred and fourteen adolescents (59 females) aged 12–18 from several cities & villages in northern Israel were recruited to study. A cross-sectional exploratory study assessed adolescents’ energy drink consumption, nutritional and lifestyle habits, well-being, and anxiety using self-reported questionnaires. Anthropometric measurements - weight, height, and waist circumference were also assessed. Results: Gender and energy drink consumption were associated with psychological status. Energy drink consumers reported a lower well-being index and a higher anxiety index than non-consumers. Energy drink consumers ate significantly more fast food per week than non-consumers. In addition, sleep hours were correlated with anxiety levels. These results differed between genders. Conclusions: Our study shows complex associations between energy drink consumption and mental health indices. These associations can serve as a basis for further research into this topic.