PURPOSE: This study aimed to verify the effects of aquabike exercise on the gait ability and cardiorespiratory and fall-related fitness of older women with obesity.METHODS: The participants were divided into 65–74 years old and 75–82 years old groups. Verified cardiorespiratory fitness and physical changes were compared between the groups. The aquabike exercise used in this study was a combination of water exercise and a fixed bicycle on the ground. A 50-min aquabike exercise was performed three times weekly for 12 weeks.RESULTS: Our study’s results revealed that cardiorespiratory fitness did not show any significant changes between the groups × period of forced expiratory volume, maximum 80% exercise duration, maximum heart rate, and pedals per minute. The number of revolutions increased significantly after the exercise. In relation to gait, there was no significant change between the group × period of time required for walking 6 m and the number of steps, whereas the time required and the number of steps required to walk for 6 m within the groups significantly decreased after exercise. There were no significant changes between the groups × period in 3-m round-trip, five chair-standing, 30-s chair-standing, and relative grip strength of fall-related physical variables; however, the time required to walk a 3-m round-trip and five chair-to-stand within the groups decreased after aquabike exercise.CONCLUSIONS: Aquabike exercise is an effective mediation strategy for older women with obesity, as it is an exercise method that maintains a vibrant life in older age groups as well as walking ability by improving cardiopulmonary and fall-related physical strength.