Objective: The aim of this study was to analyze the relationship between adolescent and young adult homicide mortality rates in Brazilian municipalities according to gender, race, and contextual characteristics at the municipal and federation unit levels. Methods: This is an ecological study that used secondary data available from the death records of the Mortality Information System and socioeconomic data from the Brazilian Census. The dependent variables were homicide mortality rates among people aged 15–29 years by sex and race from 2015 to 2017. The contextual variables were related to education, income, schooling, and vulnerability. Multilevel linear regression was applied in an ecological model to verify the first- and second-level variables’ effect. Each variable’s effect was estimated using β and its respective confidence intervals (95%CI) and statistical significance. Results: There was a direct and significant relationship between the adolescent and young adult mortality rates and the homicide mortality rates among adults, regardless of sex and race/skin color. However, this relationship was more pronounced among black adolescents and young adults. At the federative unit level, the human development index was significantly related to the mortality rates of black men, white men, and white women. Conclusion: There is racial inequality in adolescent and young adult mortality from violence in Brazil; the rates are related to municipal characteristics, such as violence in the adult population and inequalities in education and social protection.