Background: It has been pointed out that moderate to vigorous exercise improves metabolic syndrome (MetS) criteria; however, studies on functional fitness in subjects with MetS are scarce. Aim: This study aimed to assess functional fitness abilities in MetS and non-MetS subjects. Methods: Cross-sectional study. Participants living in the Balearic Islands (n = 477, 52% men, 55–80 years old) with MetS (n = 333) and without MetS (n = 144). Anthropometric, socioeconomic and lifestyle characteristics were measured, and blood samples were collected. Functional fitness tests included: one leg balance, standing and sitting handgrip, 30-s chair stand, arm curl, chair sit-and-reach, back scratch, 8-foot time up-and-go, 30-m walk, and 6-min walk tests. A Functional Fitness Score was created from tests that measured agility and dynamic balance, static balance, lower-and-upper body strength, lower-and-upper body flexibility, aerobic endurance, and speed. Results: All functional fitness tests were lower in MetS subjects, except for back scratch and standing handgrip test. After adjusting for possible confounders (sex, age, civil status, education level, leisure-time physical activity) MetS subjects were more likely to be below average for a sex and age specific cut-off value of one leg balance (Odds Ratio, OR: 2.37; 95% Confidence Interval, CI: 1.25–4.48), chair stand (OR: 2.30; 95% CI: 1.26–3.20), arm curl (OR: 3.43; 95% CI:1.90–6.26), back scratch (OR: 3.49; 95% CI: 2.31–5.91), 8-foot up-&-go (OR: 13.03; 95% CI: 6.66–25.55), 30-m walk (OR: 8.10; 95% CI: 4.33–15.57) and 6-min walk test (OR: 3.28; 95% CI: 1.76–6.52), whereas they were more likely to be above average for sitting handgrip test (OR:1.69; 95% CI:1.21–2.95). Functional Fitness Score was lower in MetS subjects (5.44 ± 2.40 vs. 7.04 ± 1.72, p < 0.001), independently of sex and age. Conclusion: MetS participants showed lower functional fitness abilities and lower Functional Fitness Score than non-MetS peers, independently of sex, age, body mass index and waist circumference, showing lower ability to perform everyday activities safely and independently.