Background: Serum uric acid (SUA), a by product of purine metabolism, has been variably associated with type 2 diabetes mellitus (T2DM), with studies suggesting positive, negative, or no correlation. Given the mixed findings, this study explores the correlation between SUA and glycemic parameters among individuals with T2DM and healthy controls. Method: An analytical cross-sectional study was conducted at Sri Aurobindo Institute of Medical Sciences, Indore, India, over 18 months (September 2022–February 2024). The study included 250 participants: 125 with T2DM and 125 healthy controls. Fasting blood glucose (FBG), postprandial blood glucose (PPBG), HbA1c, and SUA levels were measured. Data were analyzed using descriptive statistics, t-tests, chi-square tests, and Spearman’s correlation, with a p-value <0.05 considered statistically significant. Results: Diabetics exhibited significantly higher FBG, PPBG, HbA1c, and SUA levels compared to healthy controls. SUA levels were positively correlated with FBG (ρ = 0.320, p < 0.001) and PPBG (ρ = 0.328, p < 0.001) across the total population, although significance diminished after adjusting for age, BMI, hypertension, and lifestyle factors in regression analysis. Conclusion: Modified SUA levels did not show a significant independent correlation with diabetes mellitus. After accounting for metabolic, lifestyle, and clinical factors, SUA levels remained largely unaffected by glycemic parameters, suggesting that SUA may not independently predict diabetes risk. Future research should control for additional covariates to clarify SUA’s role in T2DM.