Background Iron deficiency anemia (IDA) is a prevalent nutritional disorder affecting children worldwide, leading to potential long-term cognitive and developmental deficits. This study aimed to determine the prevalence of IDA among healthy children attending Dr. Sulaiman Al-Habib Hospital Group in Riyadh, SAU, and explore the relationship between IDA and various demographic factors, including age, gender, and nationality. Methodology A retrospective chart review was conducted from July 2023 to August 2023 at Dr. Sulaiman Al-Habib Hospital Group, in Riyadh, Saudi Arabia. The study included 498 children aged 0.58 to 17 years, selected through a cluster sampling technique. Data on demographic characteristics and laboratory results, including hemoglobin (Hb) levels, mean corpuscular volume (MCV), mean corpuscular hemoglobin (MCH), mean corpuscular hemoglobin concentration (MCHC), red cell distribution width (RDW), ferritin, and RBC, were collected. Iron deficiency anemia was diagnosed based on Hb levels and other hematological indices. Statistical analysis was performed using SPSS Statistics version 23.0 (IBM Corp., Armonk, NY, USA). Results The prevalence of IDA among the study population was 9.2%, with 72.3% of the cases classified as mild and 27.7% as moderate. No cases of severe anemia were found. Infants had the highest prevalence of IDA (16.9%), followed by toddlers (12.0%), preschool children (7.2%), and school-age children (0.8%). Gender analysis revealed a prevalence of 9.7% in males and 8.6% in females, with no significant difference between genders (p = 0.659). All non-Saudi participants were free of IDA, whereas 9.3% of Saudi participants had IDA, though this difference was not statistically significant (p = 0.761). Conclusion The study found a relatively low prevalence of IDA among healthy children attending Dr. Sulaiman Al-Habib Hospital Group in Riyadh, SAU, with the highest prevalence observed among infants. These findings highlight the need for targeted interventions to prevent IDA, particularly in younger children. Routine screening and early treatment are crucial to mitigate the potential long-term effects of IDA on child development. Further research with larger and more diverse samples is recommended to validate these findings and explore additional factors influencing IDA prevalence.