The purpose of this study was to compare and analyze the effect of twelve-week Taekwondo and walking exercises on the double-leg balance control by dividing elderly females into Taekwondo, walking exercise and control groups. In total, 30 elderly females were randomly divided into Taekwondo, walking exercise, and control groups, with 10 subjects in each group. Subjects participating in this study were 10(age $69.4{pm}5.8$ years), 10(age $71.4{pm}7.6$ years) and 10(age $70.6{pm}4.8$ years) in the three groups, respectively. Although the AP measures were not significantly different among the groups and times, the ML RMS distance and ML velocity, among the ML measures showed a significant difference among the groups and times. Average velocity and 95% confidence ellipse area were also significantly different among the groups and times. Twelve-week Taekwondo and walking exercises were found to be effective in improving static balance control. Future studies on the development of a Taekwondo intervention program tailored for the elderly with many subjects conducted by using a long-term training program are expected.