Objective. The aim of this study was to observe the association between the development of diabetic retinopathy (DR) in type 2 diabetes mellitus (T2DM) and the levels of glucose and lipid metabolism and serum uric acid (SUA) levels. Methods. A retrospective analysis was performed on 97 patients with T2DM who were admitted to our endocrinology department from June 2019 to April 2021 with complete data; the patients were divided into DR and no DR groups (NDR) according to the presence or absence of DR. Their clinical history and biochemical test indexes were collected, and the fundus was examined by fundus photography and the fundoscopic examination method, and the vascular diameter was measured by using a computer software. All clinical data, medical history, and biochemical test indexes were compared between the two groups, and logistic regression was used to analyze the risk factors of DR. Results. The duration of DM disease, fasting blood glucose (FBG), glycosylated hemoglobin, type A1C (HbA1c) levels, cholesterol (TC), triacylglycerol (TG), low-density lipoprotein cholesterol (LDL-C), and SUA levels were higher in the DR group than those in the NDR group, and the differences were significant ( P < 0.05 ). The difference between the NDR group and the DR group in terms of gender, age, BMI, DBP, SBP, family history of DM, FINS, and HDL-C levels was not significant ( P > 0.05 ). The results of multifactorial analysis showed that the four variables of DM duration, HbA1c, TG, and SUA were still risk factors for the development of DR ( P < 0.05 ). Further receiver operating characteristic (ROC) analysis showed that the areas under the curves (AUCs) for the duration of DM disease, HbA1c, TG, and SUA to predict the occurrence of DR were 0.740 (95% CI 0.639–0.841), 0.767 (95% 0.672–0.862), 0.721 (95% CI 0.617–0.826), and 0.693 (95% CI 0.588∼0.797), respectively. Conclusion. The lesions of DR in T2DM patients have a close relationship with the course of DM, HbA1c, TG, and SUA, and the course of DM, HbA1c, TG, and SUA has a good predictive value for the occurrence of DR.