Background/Objectives: Physical activity and sports participation are widely recognized as effective strategies for enhancing quality of life (QoL) in individuals with disabilities. This study aimed to examine the relationship between QoL and athletic performance among male and female athletes with physical disabilities who participate in individual sports. Methods: This descriptive–correlational study involved 338 Iranian athletes with physical disabilities competing at various levels of competition. QoL was measured using the SF-36 questionnaire, and sports performance was assessed based on official competition records. Data were analyzed using SPSS v21, applying descriptive statistics and Pearson correlations. Results: Both male and female athletes reported high levels of overall QoL. No statistically significant differences were found between genders in terms of physical health, psychological well-being, or total QoL scores (p > 0.05). Furthermore, there were no significant correlations between QoL and sports performance at the provincial, national, or international levels (p > 0.05). Conclusions: The findings indicate that athletes with physical disabilities report relatively high levels of QoL, irrespective of their competitive achievements or medal standings. Although no statistically significant correlations were observed, participation in individual sports may be linked to better physical functioning and psychological resilience. These associations should be interpreted with caution and do not imply causality. Nonetheless, encouraging such participation could be beneficial in supporting various dimensions of health and promoting social inclusion among individuals with disabilities.