Purpose: The purpose of this study was to examine the effects of Danjeon Breathing Exercise (DBE) on vital capacity, physical fitness, anxiety and depression among older adults. Methods: This study employed the nonequivalent control group pretest-posttest design. The experimental group participated in a 12-week DBE program. Vital capacity and physical fitness were measured with a health measurement system (HELMAS). Anxiety and depression were measured with SCL-90-R-K. Data were collected from 37 community-dwelling older adults (experimental group=21, control group=16) in the Seoul metropolitan area. The data were analyzed by $x^2$-test, Mann-Whitney test and ANCOVA. Results: The experimental group taking DBE reported significant increases in flexibility than the control group, but differences in vital capacity and balance were not significant. Older adults taking DBE showed significant decreases in the anxiety and depression levels. Conclusion: A DBE program may be a useful nursing intervention for older adults to improve their flexibility and to reduce anxiety and depression.