In one aspect, a system for monitoring a level of hydraulic fluid in an agricultural sprayer includes a drive system, a hydraulic fluid system, and a fill level sensor. The system also includes a computing system communicatively coupled to both the drive system and the fill level sensor. The computing system is configured to monitor the level of hydraulic fluid within the hydraulic fluid reservoir based on data received from the fill level sensor. The computing system is further configured to detect a leak condition in the hydraulic fluid system based at least in part on the monitored level of the hydraulic fluid within the hydraulic fluid reservoir and control an operation of the drive system to reduce the ground speed of the agricultural sprayer in response to detecting the leak condition.