Abstract: According to the field survey of the Health-related Exercise Program for the elderly in Japan, the contingent valuation method (CVM) was used to assess the willingness of the elderly to pay for Health-related Exercise Program and its influencing factors.The results showed that more than 60% of the respondents expressed willingness to pay, with more women than men, and there was a downward trend as they grew older.The annual income of the respondents had a significant positive impact on willingness to pay; meanwhile the subjective health perception of the respondents, the frequency and effect of participating in the Health-related Exercise Program also had a significant positive impact on their willingness to pay.There was a negative correlation between BMI and body fat of women and their willingness to pay, while standing on one leg with eyes open had a significant positive impact on the willingness to pay.Both knee extension strength and 10 m walking speed of the respondents had significant positive effects on the willingness to pay.