Background: Food labels are an important source of information that supports informed consumer and health-related decisions. The ability to interpret the information provided on food packaging may contribute to the prevention of diet-related diseases and the promotion of healthy lifestyles, particularly among young adults, as dietary habits established during this stage of life may influence eating behaviors throughout adulthood. Objective: The aim of the pilot study was to assess the frequency of food label reading among young consumers and to examine their perceptions and interpretation of the information provided on food packaging. Material and Methods: The study was conducted in November and December 2024 among 200 university students in Poland. A CAWI survey method was used, with a proprietary questionnaire. Participants were recruited using snowball and voluntary sampling. Descriptive statistics were used to summarize the data, while associations between categorical variables were assessed using the Chi-square (χ²) test, with statistical significance set at p < 0.05. Results: The study shows that over half of the respondents reported regularly reading food product labels. More frequent use of labels was observed among individuals with higher self-assessed nutrition knowledge, students enrolled in food-related fields of study, and those who were physically active. The ingredient list was identified as the most important element of the label. At the same time, many respondents reported difficulties in interpreting the information provided and expressed a need for a clearer presentation of label information. Conclusions: Nutrition knowledge and lifestyle influence the way students use food labels. The findings highlight the need for consumer education on food labelling, particularly among young people, to improve their ability to understand and effectively use nutrition information when making food choices. Educational initiatives should also be incorporated into the education of medical and health-related groups, who can play an important role in promoting informed food choices and healthy lifestyles.