Introduction: Falls are a serious health concern with severe consequences in older adults. Various physical and cognitive functions are related to falls in older adults. Although studies have indicated that well-controlled ballet-based interventions could lead to physical and cognitive improvements in older adults, it remains unknown if and how recreational ballet practice in an unstandardized environment could also reap health benefits. This cross-sectional study examined the fall risk among recreational older ballet dancers relative to their non-dancer counterparts. Methods: Forty-three older adults aged 55 and older were recruited: 20 ballet dancers and 23 age- and sex-matched non-dancers. Fall risk was assessed through fall history (over the previous 12 months), physical function (Five-Time Sit-to-Stand test, Timed-Up-and-Go test, leg muscle strength, and physical activity level), and cognition (Montreal Cognitive Assessment). Results: The retrospective falls were similar between groups (P = 0.704). However, dancers were faster than non-dancers to perform the Five-Time Sit-to-Stand (P < 0.001) and Timed-Up-and-Go (P = 0.003) tests. They also exhibited stronger knee extensors (P = 0.010) and ankle plantarflexors (P = 0.031) than non-dancers. Dancers were more physically active (P < 0.001). No group difference was detected for cognition score (P = 0.205). Conclusions: The results suggest that older adults who practice ballet recreationally show better dynamic balance with stronger and more powerful leg muscles compared to non-dancers. Dancers were also more physically active than non-dancers. The findings augment our understanding of ballet’s effects on improving physical functions in different environments and could help apply ballet as an intervention to prevent falls in older adults.