Background and objectives: There are studies showing that exercise counseled by health professionals can improve physical fitness. However, less is known about the effects of exercise counseling on quality of life. The aim of this study was to investigate health-related quality of life of older adults who received or did not receive physical exercise counseling by sport and exercise professionals or physicians. Materials and Methods: This was a cross-sectional study that investigated quality of life of older adults who did or did not receive exercise counseling from health professionals. Older adults who were physically active took part in this study: 45 participants performed exercise advised by sport and exercise professionals (SEPCG), 19 participants performed exercise advised by physicians (PCG), and 26 participants performed exercise without counseling (NCG). Participants answered the SF-36 to estimate quality of life. Results: Analysis revealed that responses on all SF-36 subscales were higher in those participants who received counseling by sport and exercise professionals (Functioning capacity, β = −26.283, p < 0.001 and β = −26.482, p < 0.001, Role limitations due to physical problems, β = −43.372, p < 0.001 and β = −45.177, p < 0.001, Pain, β = −17.634, p < 0.001 and β = −16.015, p < 0.001, General health perceptions, β = −38.008, p < 0.001 and β = −32.529, p < 0.001, Vitality, β = −18.573, p < 0.001 and β = −16.406, p = 0.001, Social functioning, β = −37.963, p < 0.001 and β = −29.224, p < 0.001, Role limitations due to emotional problems, β = −52.246, p < 0.001 and β = −40.173, p < 0.001, Mental health, β = −17.381, p < 0.001 and β = −12.121, p < 0.001, PCG and NCG respectively). Conclusions: The results showed that those older adults who were counseled by sport and exercise professionals presented better quality of life, possibly because these professionals counseled exercise based on current guidelines for exercise prescription.