The authors used the meta-analytic approach to examine the effects of aerobic exercise on lipids and lipoproteins in adults 50 years of age and older. Twenty-eight outcomes representing 1427 subjects (806 exercise, 621 control) were available for pooling. Random-effects modeling yielded statistically significant improvements of 1.1%, 5.6%, 2.5%, and 7.1%, respectively, for total cholesterol (mean ± SEM in mg/dL, −3.3±1.7; 95% confidence interval [CI], −6.5 to −0.02; p=0.05), high-density lipoprotein cholesterol (2.5±1.0; 95% CI, 0.7–4.4; p=0.01), low-density lipoprotein cholesterol (−3.9±1.9; 95% CI, −7.7 to −0.08; p=0.05), ratio of total cholesterol to high-density lipoprotein cholesterol (−0.8±0.2; 95% CI, −1.2 to −0.4; p<0.001), but not triglycerides (−7.0±3.6; 95% CI, −14.0 to 0.1; p=0.06). After conducting sensitivity analyses, only the improvements in high-density lipoprotein cholesterol and the ratio of total cholesterol to high-density lipoprotein cholesterol remained statistically significant (p<0.05 for both). It was concluded that aerobic exercise increases high-density lipoprotein cholesterol and decreases the ratio of total cholesterol to high-density lipoprotein cholesterol in older adults.