This was one experimental study, conducted to identify the effects of stretching exercise included health education on physical health index, self-reported symptoms, and self-efficacy of exercise in Elderly. Subjects included 28 women elderly who were residents of H Dong, Dondae moon-Gu, Seoul. The treatment intervention was applied during total 8 weeks as 5 times/week for stretching exercise with 2 times/weeks for health education. Data collection were from February to April, 2004. SPSS Window program was used by aims of this study for data analysis. The results were as following: 1. 75 old age above (39.3%) was the most of age in subjects. None education (42.9%) was the most of subjects in this study. Perceived health state was the most as 71.4% in moderate and good health state. 2. Stretching exercise included health education, significantly effected on the total Cholesterol, HDL-cholesterol, triglyceride (p=.009*; p=.043*; p=.006*). However, the body fat weight was no significantly on the effect of stretching exercise included health education (p=.991). Also, stretching exercise included health education, significantly effected on total self-reported symptoms (p=.001*) with joint pain, joint rigidity, fatigue, indigestion, elimination disorder, and sleep disturbance. However, indigestion (p=.129) was no significantly on the effect of stretching exercise included health education. Self efficacy of exercise (p=.000*) was significantly on the effect. As according to this results, physical health index (total Cholesterol, HDL-cholesterol, triglyceride) and self-reported symptoms (joint pain, joint rigidity, fatigue, elimination disorder, and sleep disturbance) were reduced through stretching exercise included health education. Self efficacy was improved by this exercise program. Therefore, it is confirmed that stretching exercise included health education is an effective nursing intervention for physical, mental, and psychological health management in elderly. Accordingly, authors are proposing that variously effective health management exercise programs must be developed for elderly, at the same time, the application and following up on the programs will be more important in the future.