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The positive effects of e-bikes on physical activity, health, and the environment have been confirmed in many studies. Their choice, as well as of cycling in general, was previously considered from, among others, the socio-psychological aspect (often by use of the theory of planned behavior (TPB)) or the financial aspect (in the context of financial incentives). In addition, the question of physical activity can be especially relevant for the student population, since their level of physical activity usually declines. Starting from the previous framework, the aim of this research was to consider the intention to use e-bikes by the student population in the context of their attitudes, subjective norms, perceived behavioral control, and financial incentives. It is, according to the authors’ knowledge, the first research that combines all those variables when studying e-bikes. The research was conducted in 2022 on a convenience sample of 332 students from the University of Novi Sad (Republic of Serbia). The results show that the strongest predictor of the intention to use e-bikes can be attributed to financial incentives, followed by attitudes and subjective norms, while perceived behavioral control is not significant. Besides considerations in the context of previous research, additional recommendations for increasing e-bikes’ use were provided.