Background: Many studies have reported associations between estrogen receptor (ER) gene polymorphisms and postmenopausal osteoporosis (PMOP) risk and bone mineral density (BMD), but the results are controversial. The aim of the present meta-analysis is to verify the association between ER alpha and ER beta gene polymorphisms and osteoporosis susceptibility and BMD in postmenopausal women. Methods: PubMed, EMBASE, Web of Science, the Cochrane Library and China WeiPu Library were searched. OR and WMD with 95% CI were calculated to assess the association. Results: Overall, no significant association was observed between ER alpha XbaI, ER alpha PvuII and PMOP susceptibility in either overall, Caucasian or Asian populations. ER alpha G2014A was significantly associated with a decreased risk of PMOP in Caucasian populations. There was a significant association between ER beta RsaI and PMOP risk in both overall and Asian populations. Caucasian PMOP women with ER alpha XbaI XX and Xx genotypes had a higher LS Z value than women with xx genotype. ER alpha XbaI XX genotype was associated with increased FN BMD in overall and Caucasian populations, an increased FN Z value in Asians, and a decreased FN Z value in Caucasians. There was also a significant association between ER alpha XbaI Xx genotype and an increased FN Z value in either Asians or Caucasians. ER alpha PvuII PP genotype was associated with a low LS Z value in Caucasians and a low FN BMD and Z value in Asians. Pp genotype in PMOP women was significantly correlated with low LS BMD in overall populations, a low FN Z value in either overall, Caucasian or Asian populations. Conclusion: Each ER alpha and ER beta gene polymorphism might have different impact on PMOP risk and BMD in various ethnicities.