This cross-sectional, population-based study aimed to evaluate the prevalence of weapons possession and associated factors and involvement in physical aggression among adolescents 15 to 18 years of age (n = 960) in the city of Pelotas, Rio Grande do Sul State, Brazil. Ninety of the city's 448 census tracts were selected, and 86 houses in each tract were visited. The statistical analysis used Poisson regression. Prevalence rates in the sample were 22.8% for involvement in fights with physical aggression and 9.6% for weapons possession in the previous 12 months. The study concluded that young males that use alcohol and/or illegal drugs and present minor psychiatric disorders show a higher probability of weapons possession and involvement in physical fights.