Objective: The purpose of present study was to conduct a systematic review of reports on the effect of exercise on the cognitive performance of older adults without cognitive impairment. Methods: Reports published between January 2008 and October 2013 in PubMed/Medline, SPORTDiscus, Scopus, PsycINFO, SciELO, and LILACS, containing the terms exercise, and physical activity combined with cognition, cognitive performance, cognitive function, and elderly were reviewed. The search strategy was limited to randomized controlled clinical studies, describing specifically the intensity, duration, and frequency of exercises. Results: Five hundred and sixty two reports were identified, of which 83 were subjected to abstract reading, 36 for complete reading, and nine met the inclusion criteria. The results indicate that aerobic (> 30 min, three times a week, minimum of 12 weeks) or resistance (minimum once a week for 12 weeks) exercises imparted positive effects on the cognitive performance among the elderly. Conclusion: Aerobic and resistance exercises are non-drug approaches that can improve cognitive performance in the older adults.