Background: Cyberbullying and cybervictimization, which have been linked to the growth of the Internet and issues with mental health, can have serious psychological and academic consequences for young individuals, yet they have received relatively little scientific attention at universities. These phenomena have become an alarming social issue due to their rising rate and devastating physical and psychological effects on undergraduate university students. Aim: to estimate the prevalence of depression, low self-esteem, cybervictimization, anxiety, cyberbullying, and Internet addiction among Saudi female nursing university students and to identify the factors that predict cybervictimization and cyberbullying. Methods: Convenience sampling was used to select 179 female nursing university students with an average age of 20.80 ± 1.62 years for the purpose of conducting a descriptive cross-sectional study. Results: The percentage of students who reported having low self-esteem was 19.55%, depression (30.17%), Internet addiction (49.16%), anxiety (34.64%), cyberbullying (20.67%), and cybervictimization (17.32%). There was an inverse relationship between students’ self-esteem and their risk of engaging in cyberbullying (AOR = 0.782, 95% CI: 0.830–0.950, p = 0.002) or becoming cybervictims (AOR = 0.840, 95% CI: 0.810–0.920, p < 0.001). Further, Internet addiction predicted both cyberbullying (AOR = 1.028, 95% CI: 1.012–1.049, p = 0.003) and cybervictimization (AOR = 1.027, 95% CI: 1.010–1.042, p < 0.001). The likelihood of experiencing anxiety was linked to cyberbullying (AOR = 1.047, 95% CI: 1.031–1.139, p < 0.001) and cybervictimization (AOR = 1.042, 95% CI: 1.030–1.066, p < 0.001). Conclusion: Importantly, the findings suggest that programs designed to help university students avoid participating in cyberbullying activities or becoming cybervictims should take into account the influence of Internet addiction, mental health issues, and self-esteem.