With physical inactivity becoming a worldwide crisis, physical literacy is recognized as a potential gateway for the promotion of physical activity. This study intended to examine the relationship between physical literacy and physical activity and examine whether there exist potential moderators of this relationship. Six databases including PubMed, ScienceDirect, ProQuest, Web of Science, ERIC, and PsycINFO were searched on April 11th, 2024 for the last time. Random-effects meta-analyses were conducted to examine the strength between physical literacy and physical activity, with subgroup analyses and meta-regression analyses applied to examine the potential moderators. A total of 3,932 articles were identified, of which only 26 studies were included after undergoing title, abstract, and full-text screening. There was a positive and moderate correlation (r = 0.369) between physical literacy and physical activity, with physical activity intensity (Q = 11.608, p < 0.05) and the selection of physical activity assessments (Q = 9.523, p < 0.05) serving as moderators in this relationship. As for gender, the selection of physical literacy assessments, mean age, and sample size, their moderating role wasn't significant. Future research regarding physical literacy and physical activity should pay more attention to relevant moderators and conduct more longitudinal studies to explore the dynamic change in their relationship over time.