Elderly people practicing physical activity has increased but it is still insufficient compared to those who are sedentary. The benefits that an active lifestyle can provide are known. So, it is increasingly important to understand which physical activities bring more benefits for the elderly. The aim of the present study was to determine if there were changes in the results in the pre-test and post-test performed to the elderly after 3 months of intervention on Aquafit and Functional Exercise. It is a case study carried out in one of the most deserted and aged regions of Europe and, therefore the sample is small, but they are elderly people who need very much of intervention: n=20 persons, over 65 years old, from the district of Castelo Branco. They were divided into two groups: 10 who practiced hydro gymnastics and 10 who practiced functional exercise. For data collection were used the Senior Fitness Test battery, The sphygmomanometer & the Freestyle Optium Neo. T-test or the Wilcoxon test & the probability of ,05 were used to make the comparisons. The results showed that there were statistically significant differences in the values of the Heart Rate, Raise and Sit, Sit and Reach tests, Reach Behind the Back and Walk 6 minutes between pre and post-test. The elderly practicing Functional Exercise presented better values in the physiological parameters and in the variables of the physical condition: Flexibility, Lift and Seat, Speed and Strength. Elderly practicing Aquafit presented better values in the variable resistance.