The main aim of this study was to create a new test for assessing the motor competence of children of preschool and early school age and to determine its reliability and validity. Thirty children (5–6 years) were tested on two occasions 14 days apart. The testing procedures included the performance of the Four Station Fundamental Motor Test (4-SFMT). The newly constructed 4-SFMT consisted of four fundamental skills/tasks: space covering (ROLL), overcoming resistance (PULL), object control (BALL), and overcoming obstacles (CLIMB) skills. The performance was evaluated with a 22-point scale with the different criterion for each skill and measured by time. Concurrent validity was assessed by determining the correlation with Test of Gross Motor Development (TGMD-2). The level of agreement across trials were statistically significant for all three raters, with two variables presenting excellent (ICC > 0.9), and two variables having good reliability (ICC > 0.75 and < 0.9). No significant differences were found between test and re-test scores, indicating the test's high reliability. Factor analysis isolated only one motor factor (accounting for 43.99% of the variance with the eigenvalue of 1.768) from four tasks. There was a large correlation (r = -0.576, p < 0.01) between process and product-oriented assessments of the 4-SFMT. Moreover, significant correlations were found between 4-SFMT and TGMD-2 for score (r = 0.824, p < 0.001) and time (r = -0.652, p < 0.001), which points to good concurrent validity of the newly constructed test. Construct validity was confirmed by small to moderate correlations between tasks (0.016 to -0.509) and no differences between boys and girls in total score (p = 0.943) and time (0.49). The 4-SFMT appears to be a valid and reliable tool that can be used to evaluate MC in children between the ages of 5 and 6 and is reasonably simple to use.