Exercise alone affects nutrient needs, but if exercise is coupled with underconsumption of the proper amount of energy needed, micronutrient deficiencies can occur. The goal for every athlete, especially adolescents who are in a period of rapid growth, is to consume adequate energy and the proper balance of micronutrients and macronutrients, that is, the amount required for appropriate growth as well as optimal performance. Although athletes may be deficient in different micronutrients, this review will focus on iron. Iron is a required trace mineral that is involved in a number of metabolic processes throughout the body. The purpose of this review is the following: (1) to briefly discuss the dietary reference intakes for iron, (2) to present a brief background of iron’s role in the body, (3) to describe the stages of iron deficiency anemia, (4) to discuss some of the metabolic processes that require iron and may affect performance in the adolescent athlete, and (5) to discuss research conducted on iron and exercise performance in the adolescent athlete.