Lead negatively affects human growth and development. In this research, we aimed to assess the effect of elevated blood lead level on age at menarche (AM), controlling for body mass index (BMI) and estimated fatness. The sample included 490 girls aged 7−16 examined in Polkowice town (Copper Basin, Poland) in 2008. Measurements included height, weight, skinfold thicknesses and estimated percentage of body fat. AM was assessed using the status quo method. Blood samples were taken for lead level assessment. Two groups were defined based on the median blood lead level for the total sample of children (3.7 µg/dL). Logistic regression models were used to assess the association between AM and independent variables. The results indicated that menarche in the higher blood lead level group was significantly later compared to the lower blood lead level group (p < 0.01). This relationship remained only marginally significant when BMI (p < 0.10), sum of skinfolds (p < 0.09) or percentage of fat (p < 0.08) were controlled. The results revealed that a lower blood lead level (3.7 µg/dL) than the currently acceptable threshold (5 µg/dL) is related to a later AM; however, this relationship is moderated by body fatness, which may decrease its significance.