Hypercholesterolemia is one of the cardiovascular risk factors sensitive to preventive and control interventions. Here we created a hypercholesterolemia model to investigate the effect of the long term aerobic exercise (swimming) on the hemorheology of rats fed with high-fat diet. We found that the rats fed with high-fat diet developed hypercholesterolemia and hepatic steatosis and their hemorheological and coagulative properties were all impaired as compared to those of the rats fed with standard diet. But after exercise, the total cholesterol and triglyceride in the plasma were significantly decreased and the severity of hepatic steatosis were reduced. Exercise greatly improved the erythrocytes' hemorheological properties, including deformability, electrophoretic mobility and osmotic fragility. Exercise also markedly lowered the activated partial thromboplastin time (APTT) but had moderate effects on other coagulative parameters. The high oxidative stress level, as indicated by plasma MDA concentration, in rats with high-fat diet was significantly attenuated to the normal level after exercise. The present study suggests that long term aerobic exercise could remarkably improve the abnormal hemorheological property and the oxidative stress in rats with hypercholesterolemia.