Alcohol consumption prevalence in Bolivia is one of the highest in the region and the most degrading practices faced by the society. To apply the changes, social policy makers require objective, accurate, and complete information about the factors that could be considered both guards and risky. Hence, links between socio-demographics, family, personal/behavioral and social variables and youth alcohol use were analyzed in order to know their particular contributions to the explanation of drinking behavior. The study was carried out with a sample of 1,023 young students (13---23 years old), of both sexes (515 male and 508 female) recruited from local high schools and university initial undergraduate courses. The results showed strong ties between such variables and adolescent alcohol drinking behavior. The predictive model (linear regression model) fitted relatively well including variables such as age, parental monitoring, father---adolescent relationship, peer pressure, antisocial behavior and risk perception. Nevertheless, only social and parental variables proved a good fit with the empirical data when a theoretical model was proposed through a structured equation modeling. Although this model seems to be in good shape, it should be adjusted to a more comprehensive approach to a risk/protection conceptual framework.Factores de riesgo; Factores de protección; Uso de alcohol; Modelo predictivo; Modelo teórico Consumo de Alcohol en la juventud: factores asociados de riesgo y protección Resumen La prevalencia de consumo de alcohol en Bolivia es una de las más altas en la región y una de las prácticas más degradantes que enfrenta la sociedad. Para realizar cambios duraderos, los formuladores de políticas sociales requieren información objetiva, exacta y completa sobre los factores de riesgo y protección de este problema. Por lo tanto, se analizaron los vínculos entre algunas variables socio-demográficas, familiares, personales y sociales con el comportamiento de consumo de alcohol. El estudio se realizó con una muestra de