[Purpose] The purpose of this study was to evaluate the effect of 4 weeks moderate aerobic exercise on outcome measures of saliva stress hormones and lactate levels in healthy adult volunteers. [Subjects and Methods] Sixteen healthy students with an age range of 15–25 years participated in this study. The participants performed an exercise test of moderate intensity for 4 weeks, three times per week. The exercise was treadmill walking. Saliva concentrations of cortisol, testosterone and lactate dehydrogenase (LDH) were measured before and after the 4 weeks of moderate aerobic training using immunoassay techniques. [Results] After 4 weeks of exercise, there were significant increases in cortisol, free testosterone levels, and LDH activity along with a significant decrease in the ratios between testosterone and cortisol levels. No significant correlations were found among the studied parameters in the resting stage, a result which supports the positive effect of exercise on stress hormones following 4 weeks of training. [Conclusion] The results suggest that four weeks exercise of moderate intensity significantly affects the salivary stress hormones of young healthy volunteers. The data support the importance of salivary stress hormones as potential biological markers especially for older ages. However, more research is required to validate these biological markers which determine the host response to physical activity.