Very little is known about the influence training programmes that combine land-based and water-based exercises might have on the cognitive function of healthy older people. Aim: to analyze the combined effect of two physical exercise programs (water-based and land-based) on fitness level and cognitive function. Method: 15 senior citizens carried out a water and land-based exercise program (EF group), while 22 senior citizens followed the same program with the addition of cognitive training performed in water (EC group). The effects of both programs were assessed by means of the Symbol Digit Modalities, the Two-minute step and the Timed-up-and-go tests. Results: The data obtained showed that both programs had significant effects on the participants' fitness level and cognitive function, although only those in the EC group showed a significantly higher improvement. Conclusion: The combination of water-based and land-based exercise may lead to improvements in cognitive functions and fitness levels in healthy older adults. The inclusion of cognitive exercises performed in water seems to maximise these effects. Keywords: cognitive enhancement. quality of life. learning and memory. physical exercise in water. physical activity. exercise aerobic.