Metformin is commonly used drug for type 2 diabetes and may also impact lipid profiles. Statins are often combined with metformin to manage dyslipidemia, but their comparative efficacy on lipid profiles is not well established. This study aimed to compares the effects of metformin alone versus metformin with statins on lipid profiles and to investigate the impact of different metformin doses on these profiles. A cross-sectional study was conducted at Aljabal Alakdar Diabetic Clinic in East Libya from July to December 2023, involving 200 adults with type 2 diabetes. Participants were divided into Group A (metformin only) and Group B (metformin plus statin). Inclusion criteria were adults aged 18-75 years, on metformin for at least 3 months, with recent lipid profile data, and who provided informed consent. Exclusion criteria were additional lipid-lowering drugs or any medications known to affect lipid profiles, type 1 diabetes, severe comorbidities, and pregnancy. Data were analyzed using SPSS version 27 with MANOVA, and significance was set at p < 0.005. The mean age was 58.62 years, mean diabetes duration was 11.43 years, with 47.5% males and 52.5% females. Mean HbA1c was 7.98%, mean urea was 36.5 mg/dL, and mean creatinine was 0.95 mg/dL. Lipid profile parameters included mean LDL cholesterol at 89.09 mg/dL, HDL cholesterol at 47.71 mg/dL, total cholesterol at 175.6 mg/dL, and triglycerides at 169.4 mg/dL. The key lipid parameters showed a significant difference (p < 0.000) between groups, with the metformin-only group exhibiting lower LDL, HDL, triglycerides, and total cholesterol compared to the metformin plus statin group. Our study found that metformin alone achieved better lipid control than metformin combined with statins, with a 1g dose showing notable antihyperlipidemic effects.