This study examined health literacy and its relevant determinants that may associate with health literacy in Taiwan using the European Health Literacy Survey, to assess self-perceived difficulty in health-related situational decision-making and tasks. With a sample of 510 university students from various cities across Taiwan, we found that students with low health literacy were more likely to self-assess financially deprived and report poor health status, lower social status and they tended to have lower frequency of physical exercise. We have also categorized our respondents into three academical classifications to identify significant determinants towards students with different education backgrounds. Our findings suggest that improving health literacy among university students in Taiwan may require an integrated strategy to provide them with a health-supportive environment.