Purpose: The main purpose of this study was to comprehensively investigate the potential of fractal dimension (FD) measures in discriminating brain gliomas into low-grade glioma (LGG) and high-grade glioma (HGG) by examining tumor constituents and non-tumorous gray matter (GM) and white matter (WM) regions. Methods: Retrospective magnetic resonance imaging (MRI) data of 42 glioma patients (LGG, n = 27 and HGG, n = 15) were used in this study. Using MRI, we calculated different FD measures based on the general structure, boundary, and skeleton aspects of the tumorous and non-tumorous brain GM and WM regions. Texture features, namely, angular second moment, contrast, inverse difference moment, correlation, and entropy, were also measured in the tumorous and non-tumorous regions. The efficacy of FD features was assessed by comparing them with texture features. Statistical inference and machine learning approaches were used on the aforementioned measures to distinguish LGG and HGG patients. Results: FD measures from tumorous and non-tumorous regions were able to distinguish LGG and HGG patients. Among the 15 different FD measures, the general structure FD values of enhanced tumor regions yielded high accuracy (93%), sensitivity (97%), specificity (98%), and area under the receiver operating characteristic curve (AUC) score (98%). Non-tumorous GM skeleton FD values also yielded good accuracy (83.3%), sensitivity (100%), specificity (60%), and AUC score (80%) in classifying the tumor grades. These measures were also found to be significantly (p < 0.05) different between LGG and HGG patients. On the other hand, among the 25 texture features, enhanced tumor region features, namely, contrast, correlation, and entropy, revealed significant differences between LGG and HGG. In machine learning, the enhanced tumor region texture features yielded high accuracy, sensitivity, specificity, and AUC score. Conclusion: A comparison between texture and FD features revealed that FD analysis on different aspects of the tumorous and non-tumorous components not only distinguished LGG and HGG patients with high statistical significance and classification accuracy but also provided better insights into glioma grade classification. Therefore, FD features can serve as potential neuroimaging biomarkers for glioma.