The ergogenic effects of simultaneous lower- and upper-body ischemic preconditioning (IPC) are a factor that has not been investigated exhaustively. Therefore, this study aimed to investigate the effects of IPC on 500 m rowing performance (time, relative peak [RPP] and mean [MPP] power output, time to peak power [TPP], and blood lactate concentration [BLa]), as well as heart rate (HR) among forty-three physically active male (n = 24) and female (n = 19) subjects. In this cross-over randomized trial, either the IPC (220 mmHg) or SHAM (20 mmHg) protocol was applied to the upper and lower limbs simultaneously for 5 min. Then, after 5 min of reperfusion, the participants performed an all-out 500 m rowing trial. During rowing, HR was recorded, and after the completion of the rowing, the BLa concentration was determined. Wilcoxon’s signed-rank test showed a significantly shorter TPP in the SHAM condition compared to under the IPC condition for females (Z = 2.415, p = 0.017), but not for males (Z = 1.914, p = 0.056). Moreover, a significant main effect of the group was reported for rowing time, BLa, RPP, and RMP (p < 0.001 for all dependent variables). No significant interactions nor a main effect of the condition were observed for rowing time, BLa, RPP, RMP, HRWP, HRMEAN, and HRMAX (p > 0.05 for all dependent variables). Simultaneous lower- and upper-body IPC led to a significant decrease in the time to peak power during the 500 m ergometer rowing trial in females but not in males. Additionally, no significant effects on the time or other power output variables, HR, or BLa concentration were registered.