Introduction Obesity has become a global epidemic and a major health problem in the twenty-first century. Studies have demonstrated that weight loss lowers increased serum total cholesterol and low-density lipoprotein (LDL) cholesterol and raises high-density lipoprotein (HDL) cholesterol. One of the most recent procedures for managing weight loss in obese people with other options is laparoscopic sleeve gastrectomy (LSG). Objectives The aim of this study was to evaluate the short-term effect of laparoscopic sleeve gastrectomy on lipid profile in hyperlipidemic obese patients during the nine months of postoperative care. Methods From July 2020 to October 2021, 50 hyperlipidemic obese patients who were eligible for bariatric surgery underwent this prospective study at Main University Hospital in Alexandria, Egypt. Before and one, three, six, and nine months after the surgical intervention, measurements of body weight, body mass index (BMI), waist circumference, fasting and postprandial blood sugar, serum cholesterol, triglyceride, HDL, and LDL levels were taken. Results The patients’ average age was 33.72±7.95 years. BMI, weight, blood sugar, and other measurements all significantly decreased. The mean body mass index (BMI) of the patients was 48.59±5.78 kg/m2 before surgery, however, it was reduced to 32.58±3.91 kg/m2 nine months afterwards. Studies revealed a statistically significant rise in HDL levels in the serum and a statistically significant fall in triglycerides, total cholesterol, and LDL levels. Results also revealed a favorable association between preoperative differences in age, BMI, and diabetes state and postoperative lipid profile alterations. Conclusion Laparoscopic sleeve gastrectomy (LSG) decreases body mass index, improves glucose and lipid metabolism, and alters the lipid profile by significantly lowering total cholesterol, triglycerides, and LDL cholesterol while significantly raising HDL cholesterol.