Background University students use caffeine to cope with stress in spite of its adverse effects. The purpose of this study is to explore caffeine consumption among university students in Saudi Arabia, as well as its correlation with stress and caffeine intoxication. This cross-sectional study examined a convenience sample of 547 students at Princess Nourah Bint Abdulrahman University (PNU). A self-administrated questionnaire was used to assess caffeine consumption in milligrams per day, stress was assessed by the perceived stress scale (PSS), and caffeine intoxication was assessed using the DSM-5 criteria. Results The mean total caffeine consumption was 424.69 ± 385.31 mg/day. High levels of caffeine consumption were found among students of non-health colleges and students who were undiagnosed with psychiatric disorders (p values <0.040 and 0.027, respectively). A significant positive correlation was found between caffeine consumption and perceived stress (p<0.045). Only 13.26% of all participants fulfilled the DSM-5 criteria for caffeine use disorder. The majority of participants showed moderate and high stress levels (69.9% and 18.7%). Conclusion This study revealed high caffeine consumption and perceived stress levels among female undergraduate students with a significant positive association between them. The results emphasize the importance of educational campaigns about caffeine consumption and intoxication. They also encourage the development of stress management programs. Longitudinal studies need to be designed for evidence-based intervention.