In this work, we examined knowledge about sugars and guidelines for its consumption and explored the relationship between knowledge and measures related to nutritional information processing as well as sugar consumption. Specifically, we asked participants (n = 1010 Portuguese) to categorize a set of ingredients (e.g., glucose, aspartame) regarding their composition (i.e., intrinsic vs. added/free sugars) and origin (e.g., natural vs. artificial) and if they were aware of the WHO guidelines for sugar intake. Overall, despite using information about sugar frequently and considering attending to such information as very important to stay healthy, most participants were unaware of the WHO guidelines and revealed difficulties in the categorization task. Women, participants with a higher level of education, and those with children in the household reported higher use of sugar content information present in nutritional labels, higher perceived knowledge of nutritional guidelines, and higher hit rates in categorizing sugar sources. Almost one-fourth of the population exceeds the daily limit recommended by the WHO. Therefore, characterizing the knowledge of a Portuguese sample regarding sugar sources and sugar intake guidelines is particularly relevant, and our results emphasize the need to implement effective strategies to reduce sugar intake.