Objective To perform a systematic review analysing the relationship between physical activity and modifiable cardiovascular risk factors in elderly people. Materials and methods We conducted a search of PubMed, ScienceDirect, EBSCO, Annual Reviews, and Medline, as well as organisations such as the American College of Sport and Medicine, to include all studies published on the topic from 2008 to 2014. Results Forty-seven studies were analysed. Most studies proposed protocols for moderate to vigorous intensity exercise, with a frequency of between 2 and 5 times per week and a duration per session of 150 to 300 min, to achieve positive changes on modifiable cardiovascular risk factors. Conclusion Both anaerobic and aerobic exercise have significant benefits on control of cardiovascular risk factors and should be included in physical activity programmes for elderly people.