Effect of a 12 Week-Aerobic Exercise Program on Physical Fitness, Depression, and Cognitive Function in the Elderly. Exercise Science, 24(3): 375-385. 2014. The purpose of this study was to examine the effect of a 12-week aerobic exercise intervention on physical fitness, depression, and cognitive function in elderly persons. A total of 31 elderly persons were voluntarily recruited, and were assigned to either exercise (n=20) or control group (n=11). The exercise group underwent a 12-week aerobic exercise program with a frequency of 3 days per week, while the control group maintained their sedentary lifestyles during the same period. Four (4 women) out of the initial 31 participants dropped out due to personal reasons. Data collected from the remaining 27 elderly persons were used in the final analyses. The dependent variables, including body composition, functional physical fitness parameter (i.e. Senior Fitness Test), serum serotonin, depression (i.e. S-GDS: short-form geriatric depression scale), and cognitive function (i.e. MMSE-DS: Korean version of mini-mental state examination for dementia screening) were measured at baseline, and following the intervention. For statistical analyses, pre-to-post-intervention changed scores (delta scores) were calculated for the measured variables. One-way analyses of covariance (ANCOVA) were used to test significant group differences for each delta score in the measured variables at p=0.05. There were significant group differences for changed scores in physical fitness parameters, serum serotonin, depression, and cognitive function scales. Compared to the control group, the exercise group had significant improvements in upper-, lower-body strength, endurance, and lower-body flexibility and decreased serum serotonin by 12 weeks of exercise intervention. In addition, the exercise group had significantly improved depression and cognitive function scales of S-GDS and MMSE-DS, as compared with control group. Pearson correlation analyses showed changed functional physical fitness were significantly and positively associated with changed depression and cognitive function scales. In summary, the current findings of the study suggest that participating in a 12-week aerobic exercise provides a safe and effective means against aging-related functional deficits, such as physical fitness, depression, and cognitive function in elderly persons.