Studies indicated that decreased sex hormone binding globulin (SHBG) can increase the risk ofbreast cancer and its recurrences in postmenopausal women. On the other hand; it’s possible thatexercise training can affect SHBG. Therefore; the aim of current study was to clarify the effectof combination exercise training on SHBG in postmenopausal women with breast cancer. Thus;29 postmenopausal women with breast cancer that received surgery; chemotherapy and radiationtherapy divided in to two groups; experimental and control. Subjects of experimental groupperformed 15 weeks combination exercise training including walking (2 sessions per week) andresistance training (2 sessions per week different from walking days). Pre and post of 15 weeks;body weight; BMI andserum SHBG levels were measured in to two groups. Data were analyzedusing by ANCOVA and significant levels set as p<0.05. The findings of present studydemonstrated that combination exercise training has significant effect on body weight; BMI andserum SHBG levels (p< 0.05). In experimental group; body weight and BMI were decreased andSHBG levels were increased; after 15 weeks. In conclusion; combination exercise training canincrease serum SHBG levels in postmenopausal women with breast cancer; significantly.Because of elevated serum or plasma SHBG levels can reduce risk of breast cancer and itsrecurrences; combination exercise training during treatment can reduce recurrence of breastcancer by increased levels of SHBG.