The purpose of this study was to investigate the relationships among variables of transtheoretical model for exercise in the elderly. Method: A hypothetical model explaining the stage of change was constructed based on a transtheoretical model. Empirical data for testing the hypothetical model was collected from 246 old adults over 65 years old in a community settings in Seoul, Korea in June and July, 2000. Data were analyzed by descriptive statistics and correlational analysis using pc-SAS program. The Linear Structural Modeling(LISREL) 8.0 program was used to find the best fit model which explain causal relationship of variables. Result: The fitness of modified model to the data was X2= 96.75(df=49, p=.00005), GFI= .98, NFI=.99, AGFI=.95, NNFI=.99. The the predictable variables of stage of change explained 64% of stage of change for exercise Conclusion: Results are consistent with the studies of application of the transtheoretical model, which has been used to understand how people change health behaviors. The findings of this study give useful informations to construct exercise intervention program for the elderly about relationships among variables influencing to the stage of change of exercise.