Aim of this study was to determine the effects of Pilates and flexibility training on balance and fear of falling of elderly weman. The research was semi-experimental with pretest-post-test randomized-group design. Participants were healthy elderly women aged 60-80 years who were purposefully selected and randomly divided into three groups: Pilates (n=15), flexibility (n=15) and control (n=14). Berg balance scale (BBS) and Timed up and go (TUG) test was used to measure the balance of the participants. Also Fall Efficiency Scale (FES) questionnaire was used to determine  fear of falling. The experimental groups were required to participate in 12 weeks training program. While control group did not participate in any organized program. All groups performed a pretest prior to the experimental period and performed a post-test after the experimental period. ANCOVA and Bonferoni tests for determining the between group differences in post-test, at a significance level of 0.05, was used. ANCOVA test showed a significant difference between the control and Pilates groups (p=0.001) and the control and flexibility groups (p = 0.001). However, a significant difference was founded between the Pilates and flexibility groups in  BBS that it was in favor of the Pilates group (p = 0.008), but there was no significant difference in TUG and FES between the two groups.The result showed that Pilates and flexibility training can improve the balance and also decrees fear of falling of elderly weman.