[PURPOSE] The purpose of this study was to analyze the effect of combined ex-ercise (walking and kettlebell) program on body composition of middle-aged obese and non-obese women. [METHODS] 10 obese (body fat over 30%) and 13 non-obese (body fat under %30) women (mean age 44 years) participated in this study. Height, weight, body fat, BMI, muscle mass, fat mass, basal metabolic rate, and waist circumference were measured for the pre and post measurement of body composition. The same combined exercise (walking and kettlebell) program was applied to both obese and non-obese groups equally which lasted 30min for each session, 3 times a week for 8 weeks. Mean difference between pre and post measurements within a group was analyzed with two-way mixed ANOVA. [RESULTS] ANOVA was used to examine the interaction between group and time, Results showed that body composition parameters except muscle mass showed improvement. Obese group lost more body fat than non-obese group. [CONCLUSIONS] In conclusion, the com-bined exercise program has a positive effect on body composition for both obese and non-obese groups. The exercise program shows more benefit on body composition in obese group compared to non-obese group.