Background: There are contradictory findings in the literature on whether an acute bout of aerobic exercise leads to a post-exercise improvement in cognitive function (CF). Moreover, participants used in the published literature are not representative of the racial make-up of sport or tactical populations. Methods: A randomized crossover design was incorporated, with participants randomly consuming water or a carbohydrate sports drink within the first 3 min of a graded maximal exercise test (GMET) conducted in a laboratory. Twelve self-identified African American participants, (seven males, five females, age = 21.42 ± 2.38 years, height = 174.94 ± 12.55 cm, mass = 82.45 ± 33.09 kg) completed both testing days. Participants completed the CF tests immediately pre- and post-GMET. CF was assessed with the Stroop color and word task (SCWT) and concentration task grid (CTG). Participants completed the GMET when they reported a score of 20 on the Borg ratings of perceived exertion scale. Results: Time to complete the SCWT incongruent task (p < 0.001) and CTG performance (p < 0.001) significantly improved post-GMET in both conditions. VO2max was positively correlated with pre- and post-GMET SCWT performance. Conclusions: The findings of our study suggest that an acute bout of maximal exercise significantly improves CF. Additionally, cardiorespiratory fitness is positively associated with CF in our sample of student athletes from a historically Black college and university.