Physical activity (PA) has been suggested to benefit memory. Positive effects of PA on memory, however, are not always observed and moderating factors are only beginning to be identified. We therefore test the hypothesis that a single bout of moderate PA benefits memory using a paradigm of vocabulary learning of German native speakers in a second language (Swahili). We furthermore explore whether deep but not shallow learning and retrieval formats may profit from PA, and whether an overnight consolidation period improves the benefits of PA on memory further. The manuscript has in principle acceptance as a registered report and data collection is ongoing at the time of writing. So far, we tested 75 participants and calculated a 2x2x2x2 ANOVA with PA, Learning and Retrieval Format, Consolidation Period, and Recall Condition as factors. Our preliminary results suggest absence of a significant effect of PA on memory performance (F = 1.136, p = .290). Exploratory two-way interaction analysis of PA with the other three experimental factors were conducted to investigate conditions under which an effect of PA may be found. These analyses rendered insignificant effects. Nevertheless, we observe main effects of Learning Format (F = 51.88, p < .001), Consolidation Period (F = 148.15, p < .001), and Recall Format (F = 7534.41, p < .001) on memory performance. These results replicate previous findings and suggest that our experimental procedure was valid. We preliminarily conclude PA does not benefit memory within the boundaries of our experimental design.