This study intended to determine the effect of multicomponent exercise on blood lipid profile and on antioxidant capacity in older women. Forty women aged 60-80 years participated in a supervised multicomponent exercise program. Plasma contents of total cholesterol (TC), high-density lipoprotein cholesterol (HDL-C) and low-density lipoprotein cholesterol (LDL-C), triglycerides (TG), apolipoprotein A-1 (Apo A-1) and apolipoprotein B (Apo B-100), total antioxidant status (TAS) and the enzymatic activities of glutathione reductase (GR) and glutathione peroxidase (GPx) were evaluated before and after 8-month training. The multicomponent exercise program induced a significant decrease in TG, TC/HDL-C and Apo B/Apo A-1 and a significant increase in HDL-C and Apo A-1 (p<0.05). There was a significant increase in plasma TAS as well as GR and GPx enzyme activities. The present data show that an 8-month supervised moderate-intensity multicomponent exercise program resulted in beneficial improvements of blood lipid profile that were accompanied by positive modulation of antioxidant capacity.