Leaf structural and nutrient traits are key attributes of plant ecological strategies, as these traits are related to resource-use strategies and plant growth. However, leaf structure and nutrient composition can vary among different habitats, leaf habits or phylogenetic groups. In this study, we measured 13 leaf traits (one structural—leaf mass per area, LMA—and 12 nutrient traits) in 98 Mediterranean woody species growing over a wide range of environmental conditions, with the final aim of discerning the main causes of leaf trait variability. The variance decomposition results show that phylogeny, leaf habit and habitat type affected in several ways the structural and nutrient traits studied. Leaf nutrient concentrations are strongly positively correlated amongst themselves, and negatively correlated with LMA, in accordance with the “leaf economics spectrum”. We found that leaf habit and phylogeny were important causes of variation in LMA and in a broad number of leaf nutrients (i.e., C, N, Mg, S, K), while other micronutrients seemed to be more dependent on the environment (i.e., Cu and Mn). In summary, our study reinforces the existence of the leaf economics spectrum in a broad pool of Mediterranean woody species, and demonstrates the strong influence of phylogeny, leaf habit and environmental context as the main drivers of variability in some leaf structural and nutrient traits.