The scope of this study was to compare the evolution of physical fitness, functional capacity and bone mineral density in active elderly women over a one-year period. The sample consisted of 78 women from 50 to 79 years of age (c:62.4 ± 7.1) participating in an aerobic program, twice a week, 50 minutes per session during 3.4 years and divided into three age groups: A: 50-59 (n:38); B: 60-69 (n:28); C: 70-79 (n:12). Results were compared using Two Way ANOVA, "post-hoc" Bonferroni and delta (D%) variations (*p<.o1). The velocity of rising from a chair and gait speed revealed a significant difference in the three groups ranging from -14.3% to -45.5%; there was a significant improvement in A and B groups in walking speed (-12.1% to -13.9%), and also in maximum gait speed (-15.4% to -18.5%), elbow flexion in all the groups (18.9% to 24.1%), vertical jump (22.5% to 43.9%) in groups B and C, and rising from a chair in 30 seconds (25.2% to 30.8%) in groups A and B, the flexibility test showed an increase in group A (16.2% to 33.3%) and stationary walking in the three groups of (16,4% 30.0%) and bone mineral density (BMD) presented a significant increase (3.1% to 10.2%). The results indicate the salutary effect of regular physical activity.