(1) Background: The main objective of this study was to determine the correlation between element and radionuclide activity concentrations and the growth potential of trees across European mountain beech forests; (2) Methods: As, Cd, Co, Cu, Ni, Pb, and Zn were determined using inductively coupled plasma–optical emission spectrometry (ICP/OES). Mercury was determined by Direct Mercury Analyzer DMA 80 Milestone. The Cr, Rb, Sr, Y, Zr, Sn, Ba, and W were determined by Spectro Xepos Energy Dispersive X-ray fluorescence spectrometry (EDXRF). Gamma spectrometry measurements of 22Na, 40K, 232Th, 226Ra, 238U, 235U, and 137Cs were performed using a coaxial High-Purity Germanium (HPGe) detector; (3) Results: The median values of As for the upper and deeper soil horizon were lower, Ni, Pb, Rb, Sr, Y, Zr, Sn, and W were in the range, while the values of Cd, Co, Cr, Cu, Zn, Hg, and Ba were higher than median values given in the Geochemical Atlas of Europe (GAE) for the upper and deeper soil horizon. The radionuclide activity concentrations varied in approximately the same ranges. The production potential of forest trees ranged from 5262.67 for cambisol and umbrisol soil types on granite and limestone parent materials to 24490.78 for umbrisol and rendzina soil types on granite and dolomite parent materials; (4) Conclusions: Parent material had a significant role in the productivity of European mountain beech forests.