Purpose: In this study the mediating effects of subjective health status on the relationship between relatedness and participation in exercise in younger elderly women were examined. Methods: This study was a cross-sectional survey using structured questionnaires including questions on general characteristics, relatedness, subjective health status and participation in exercise. From September to October 2018, 122 women were recruited from two general welfare facilities for elders in J city. The data were analyzed using descriptive statistics, independent t-test, ANOVA, Point-biserial correlation, Pearson correlation coefficient and multiple regression using Baron and Kenny steps for mediation. Results: The mean score for relatedness was 3.37±0.75 (range of scale 1~5) and the mean score for subjective health status was 3.10±0.97 (range of scale 1~5). The participation rate in exercise was 68.9%. There were significant positive correlations among relatedness, subjective health status and participation in exercise. Subjective health status had a partial mediating effect (β=.28, p=.001) in the relationship between relatedness and participation in exercise (Sobel test: Z=3.07, p=.002). Conclusion: Based on these results, development of interventions to improve the subjective health status of elderly women are necessary in order to encourage them to participate in exercise.