Purpose: The purpose of this study was to examine the effects of thera band exercise on muscle flexibility, balance ability, muscle strength and self-rated health in elderly women. Methods: The quasi-experimental research design (one-group pretest-post test) was employed. Participants were recruited in S-city and a total of 14 elderly women completed 15-week thera band exercise. Descriptive statistics, paired t-test and McNemar-test were used in data analysis by SPSS/WIN 12.0. Results: Compared with those before participation, the participants showed higher muscle flexibility, balance ability, and muscle strength after participation in thera band exercise. Conclusion: Findings of this study indicated that the 15-week thera band exercise program had a favorable effect on muscle flexibility, balance ability and muscle strength of elderly women. Future research needs to develop combined exercise programs with other types of exercise for the health of elderly women.