Introduction: In aged women, elevated levels of some proinflammatory markers are risk factors for the development of diseases. The present study investigated the effect of 12-week walking at two different intensities on inflammatory factors in elderly woman. Materials and Methods: Thirty untrained elderly women (60— 75 years) randomly divided into three groups. Moderate tempo walking group (MTWG, n=11), Brisk walking group (BWG, n=10), and the control group (CG, n=9). The MTWG, walked at 50— 55% maximum heart rate reserve (HRRmax) and the BWG walked at %70-75 HRRmax. Both walking groups trained 12 weeks, 3 sessions per week, starting from 30 to 60 minutes and the CG remained untrained. Maximal oxygen consumption (VO2max), body composition, leukocyte counts (WBC) and plasma levels of Tumor necrosis factor-alpha (TNF-α ), were measured before and after the study period. To analyze the data, one-way analysis of variance, Scheffe test and dependent t-test was used (P≤ 0. 05). Results: VO2max, increased significantly in BWG. Body weights, percent body fat (p =0. 000), body mass index (p = 0. 003) significantly decreased, and percent muscle (p = 0. 000) increased in both exercise groups. Percent visceral fat (p = 0. 028) significantly decreased in BWG. Also, BWG showed a significant reduction in WBC counts compared to baseline levels (p = 0. 004). There were no significant differences in the plasma levels of TNF-α between the groups. Conclusion: The results showed that regular walking program can affect body composition in elderly women, however, it may not be effective in reducing systemic inflammatory markers.