As a product originating from the most natural living conditions with free foraging, red deer (Cervus elaphus) meat is becoming increasingly popular among consumers. A greater supply of this type of meat can be ensured by dynamically developing red deer farming on permanent grasslands. The study presents a comparison of the properties of lipids and the content of cadmium and lead in the LL and SM muscles of red deer kept in forest, organic farm, and conventional farm feeding grounds. The greater species and phytoncide diversity in the organic feeding ground enriched the quantitative profile and significantly increased the content of beneficial polyunsaturated fatty acids (FAs) (CLA—conjugated linoleic acid, ALA—alpha-linolenic acid, AA—arachidonic acid, and EPA—eicosapentaenoic acid) and the sum of polyunsaturated fatty acids (PUFAs), n-6 PUFA, and n-3 PUFA, in comparison with conventional farm and forest feeding grounds. It also contributed to a significantly lower n-6/n-3 ratio in both muscles. The study provides valuable data on the nutritional value and ecological safety of venison, which should be regarded as a health-enhancing food product. Furthermore, the present results can help breeders to make decisions about the locations of farms and the choice of red deer nutrition strategies.