Passersby reported seeing the cats at 4:50 p.m. at the west entrance to the campus, near Canada Road.
Deputies from the San Mateo County Sheriff's Office and campus public safety officers were called to the scene, Canada College spokesman Robert Hood said.
"It is not surprising that the animals were spotted," Hood said. "There are a lot of sightings in neighboring areas."
Hood said the campus was largely empty at the time of the sighting.
"Most of our afternoon classes are over by 2 p.m. and our night classes don't begin until 6 p.m.," he said. "It's likely that not very many students or staff were present."
However, students still received an alert about the sighting via text message, e-mail, Facebook, and Twitter, Hood said.
"We sent out an emergency message, just to be safe," he said.
Students or residents who see a mountain lion are advised not to approach it, especially if the cat is feeding or with offspring.
The county office of emergency services recommends that people keep a close watch on small children and avoid hiking or jogging at dawn, dusk or night, when the cats are most active.
For more information about mountain lions, visit www.keepmewild.org.