The purpose of this study was attempted to to identify the effects of combined resistance exercise and aerobic exercise course on health-related, and energy substrates. This study divided 24 healthy college students into the group of aerobic exercise after resistance exercise(n=8), the group of resistance exercise after aerobic exercise(n=8), and the control group(n=8) and thereby conducted a combined exercise program of different order for 12 weeks. Resistance exercise was conducted 4 times a week with the intensity of 60~70% of 1RM during the 1st through 8th week and the intensity of 70~80% of 1RM during the 9th through 12th week. Aerobic exercise was conducted 4 times a week with the intensity of 60~70% of maximum heart rate during the 1st through 8th week and the intensity of 70~80% of maximum heart rate during the 9th through 12th week. The results are as follows. 1. Changes of the health-related physical fitness In the changes of body composition through which we can know the degree of obesity. Body fat significantly decreased in both groups after 8 weeks and the decreased values were similar in each other group. However, the group of aerobic exercise after resistance exercise showed a significant increase of LBM after 8 weeks. We think that the method of aerobic exercise after resistance exercise was more effective than the other type of program. In the changes of physical fitness, flexibility, muscular endurance, muscular strength, and cardiovascular endurance of both exercised groups significantly increased compared to a control group. However, the increased values in both exercised groups showed similar results. 2. The changes of energy substrates There were no significant differences in glucose and free fatty acid being used by elements of energy substrates between the group of aerobic exercise after resistance exercise and the group of resistance exercise after aerobic exercise. Lactic acid, however, significantly decreased in the group of aerobic exercise after resistance exercise(0>12 weeks) and in the group of resistance exercise after aerobic exercise (0> 8, 12 weeks) compared to control group, respectively. Ultimately, this study provides evidence that the program which conducted aerobic exercise after resistance exercise is more effective than the program which conducted resistance exercise after aerobic exercise in the aspect of improving body composition. However, the both exercised groups showed a similar effect regardless of the order of execution of exercise in the elements of physical fitness and energy metabolism.