Background and aim: Elevated blood lipids and physical inactivity are well recognized risk factors for atherosclerotic heart disease. The aim of this study was to ascertain the effect of exercise on lipid status of individuals engaged in regular exercise. Methods: The lipid profile and anthropometric measurement of 151 apparently healthy subjects engaged in regular exercise (test) and 49 subjects engaged in irregular exercise (control) were analyzed using enzymatic methods. Results: There was significant decrease (p<0.05) in serum level of Low Density Lipoprotein- Cholesterol (LDL –C), Waist-Hip Ratio (WHR), Systolic Blood Pressure (SBP), Diastolic Blood Pressure (DBP), and Body Mass Index (BMI) in subjects engaged in regular exercise when compared with the control subjects and there was no significant difference in serum level of Total Cholesterol (TC), triglyceride (TG), High Density Lipoprotein (HDL) and Very Low Density Lipoproteins (VLDLs) (p>0.05). Comparison of the anthropometric measurement and lipid profile status in different group classification of the regular participants showed a significant decrease in TC, TG, LDL, and VLDL. TC, TG, LDL, VLDL, BMI and SBP significantly decrease with increase in frequency of exercise while HDL –C significantly increases as the frequency of exercise increases. Conclusion: Regular exercise improves HDL –C and decreases TG, TC, LDL, VLDL, SBP and DBP which does not predispose one to the risk of coronary heart disease (CHD). Females were less at risk of developing CHD than males.