This study investigates the combined impact of sleep duration and exercise habits on all-cause mortality among the elderly population in China, utilizing data from 7,231 residents aged 60 and above from the Chinese Longitudinal Healthy Longevity Survey (CLHLS). Participants were categorized based on their exercise habits and sleep duration, which were analyzed over three follow-ups (2011, 2014, and 2018). The findings revealed that normal sleep (6-8 hours) correlated with a 20% reduction in mortality risk compared to short sleepers, while long sleep (over 8 hours) was linked to a 29% increase in mortality risk. Exercise significantly affected mortality; active individuals had a reduced risk, and those transitioning from inactivity to activity saw a 12% reduction in mortality. Notably, among short sleepers, exercise habits did not significantly impact mortality for either sex. However, for those with normal or long sleep, both men and women experienced significant mortality benefits from regular exercise. Additionally, older women moving from a sedentary lifestyle to physical activity during periods of long sleep demonstrated lower mortality rates. This research highlights the importance of both sleep and exercise in influencing health outcomes, with notable gender differences in their combined effects on mortality risk.