This study was conducted in order to closely examine the effects on bone mineral density and health promotion behaviors following the intervention of a 20-week Thera band exercise program targeting elderly women. Methods: This study is a pseudo-experimental research with a pre-and-post design in a single group that examined the effects after the intervention of Thera Band Exercise for 20 weeks targeting 31 elderly women over 60 years of age who visit a Senior Welfare Center located in K city. It analyzed subjects' general characteristics using error and percentage, health promotion behavior, and a bone density aspect using the mean and standard deviation, as well as a change in the health promotion behavior and bone density, before and after exercise with Paired ttest by using the SPSS 18.0 program. Results: The effect of the Thera band exercise program on bone mineral density was reduced (t= 8.140, p< .001) gradually after 20 weeks of exercise compared to the pre-exercise period. The health promotion behavior before and after exercise showed the significantly increasing outcomes (t= 3.26, p= .003). Conclusion: There is a limitation to a direct rise in bone mineral density with the use of Thera band exercise intervention in the elderly. A change in health promotion behavior before and after exercise increased significantly. Thus, it was confirmed that taking exercise leads to a gradual rise in health promotion behavior. Hence, it understood that continuous exercise is useful and brings about a positive change in promoting health maintenance in elderly women.