Previous reports have described that long-term combination exercise training improves cognitive functions in healthy elderly people. This study investigates the effects of 4 weeks of short-term combination exercise training on various cognitive functions of elderly people. We conducted a single-blinded randomized controlled trial with two parallel groups. Sixty-four healthy older adults were assigned randomly to a combination exercise training group or a waiting list control group. Participants in the combination exercise training group participated in the combination exercise training (aerobic, strength, and stretching exercise trainings) 3 days per week during 4 weeks (12 workouts total). The waiting list control group did not participate in the combination exercise training. Measures of the cognitive functions (executive functions, episodic memory, working memory, reading ability, attention, and processing speed) were conducted before and after training. Results showed that the combination exercise training improved executive functions, episodic memory, and processing speed compared to those attributes of the waiting list control group. This report was the first of a study demonstrating the beneficial effects of short-term combination exercise training on diverse cognitive functions of elderly people. Our study provides important evidence of the short-term combination exercise's effectiveness.