Studies have confirmed that various kinds of Qigong exercises improve blood lipid profiles in middle-aged and elderly individuals, but the type of Qigong exercise that is the best option remains unclear. We employed a network meta-analysis to evaluate the comparative effectiveness of Qigong exercises on blood lipid profiles in middle-aged and elderly individuals. Methods: English and Chinese databases were searched from the inception of each database through 28 December 2018. Databases included PubMed, Embase, the Cochrane Library, China National Knowledge Infrastructure, Wanfang Database, Chongqing VIP and Chinese Biomedical Database. Literature from randomized controlled trials (RCTs) comparing the effects of Qigong exercises on blood lipid profiles in middle-aged and elderly individuals were included. Records were screened for eligible studies, and data were extracted and analysed using STATA version 15.0. The methodological quality of the included studies was evaluated using the Cochrane risk of bias tool. Results: Twenty studies encompassing 1571 patients were included. The results revealed that Wuqinxi (WQX) and Baduanjin (BDJ) are most effective in improving blood lipids based on the comparison of all interventions, but no statistically significant difference was found between WQX and BDJ. Node-splitting analysis showed no significant inconsistency in our network meta-analysis. Conclusions: The four kinds of Qigong exercises included in the study are all effective in improving blood lipids; WQX and BDJ seem to be more effective, and WQX might be the most effective exercise.