Purpose: This study examined the effects of the fumanet exercise program on the cognitive function and fall down-related physical fitness factor in elderly people. Method: The study period was May 2-June 24, 2016. The participants included 20 elderly persons (control group 10, experimental group 10) who registered at the day-care Center in G. City. Descriptive statistics were used for the analysis of the control and experimental groups` general characteristics. The chi-square and Mann-Whitney U tests were conducted to identify the two groups` general characteristics` and dependent variables` homogeneity. The Wilcoxon signed-rank test was used to compare the pre-and post-intervention cognitive function and fall down-related physical fitness factor, and a Mann-Whitney U test was used to analyze the rate of cognitive function and fall down-related physical fitness factor changes between the groups after the intervention. Result: The participants` fall down-related physical fitness factors (balance, gait, leg strength) increased and memory in the cognitive function sub-area improved in the participants who participated in the fumanet exercise program. The amount of change in gait was significantly different between the control and experimental groups. Conclusion: The fumanet exercise program included gait training using the learn, remember and repeat phased steps. Therefore, this study proposes using the fumanet exercise program to improve the elderly`s cognitive function and physical fitness factor.