Objective: To investigate the effects of androgen deprivation therapy (ADT) on blood glucose and cholesterol over 12 months in a prospective matched cohort study. Methods: English-speaking patients with non-metastatic prostate cancer attending the Princess Margaret Hospital were invited to participate in this study. Patients were divided into two cohorts: ADT users and controls. Androgen deprivation therapy users were frequency matched to controls on age, education and body mass index (BMI). The study consisted of two visits. Sociodemographic and clinical information, medication use, physical fitness, height and weight were collected before initiation of ADT. Twelve months later, fasting morning blood work was obtained to measure plasma glucose, total cholesterol, high-density lipoprotein (HDL), low-density lipoprotein (LDL) and triglycerides. Statistical analyses included univariate and multivariable linear regression. Results: We recruited 75 patients (mean age 68.9), 38 of whom were undergoing ADT. Twelve patients with prior diabetes and 29 patients taking cholesterol-lowering medication at baseline were excluded from the glucose and cholesterol analysis, respectively. In adjusted analyses, ADT users had a significantly higher glucose level compared to controls (5.88 vs. 5.52 mmol/L, p = 0.024). Overall, ADT users had higher levels of total cholesterol, HDL, LDL, and triglycerides than controls, although none of the differences reached statistical significance. Conclusion: One year of ADT use is associated with elevated fasting glucose levels and may increase all lipid fractions in men with prostate cancer.