Background and objectives: Increased arterial stiffness is an accepted cardiovascular risk factor. Several studies have shown that regular exercise is associated with reduced arterial stiffness. However, the acute effect is not well known. The aim of this study was to evaluate the immediate impact of exercise on arterial stiffness measured by pulse wave velocity (PWV). Subjects and Methods: Data from 100 consecutive patients who underwent graded maximal aerobic exercise test and pulse wave velocity study due to chest pain were analyzed. Results: With respect to brachial-ankle pulse wave velocity (baPWV), it decreased after the exercise test (before vs. after; 1420 ± 260 vs. 1358 ± 245, 1428 ± 255, vs. 1360 ±239 cm/sec; left and right, respectively). Upper extremity systolic blood pressure did not change from baseline. However, upper extremity diastolic blood pressure increased slightly. In addition, lower extremity blood pressure decreased in both systolic and diastolic phases. In both normotensives and hypertensives, baPWV decreased after exercise test. Conclusion: Exercise immediately decreases arterial stiffness.