Purpose: The purpose of this study was to determine the effects of a fall prevention program on gait ability, one leg standing-right, one leg standing-left, fear of falling, fall efficacy, and depression in the elderly. Methods: A fall prevention program was consisted of fall preventing exercise with laughter therapy. Quasi-experimental design with one group pre- and post-test was used. Twenty-two elderly were participated in this study from a community health center located in a rural area, South Korea. SPSS/WIN 18.0 was used for descriptive analysis and paired t-test. Results: After 12 weeks with a fall prevention program, gait ability (t=3.44, p=.002), one leg standing-right (t=-3.73, p=.001), one leg standing-left (t=-4.17, p<.001) and fear of falling (t=2.12, p=.046) in the elderly were significantly improved. Conclusion: A fall prevention program was effective on physical and psychological functions. This study suggested that control groups and a larger sample should be included in order to validate the effects of a fall prevention program for the elderly. Key Words: Elderly, Fall prevention program, Physical functions, Psychological