Purpose: This study was performed to evaluate effects of a stim-up matt walking exercise program on balance and gait of the frail elderly. Methods: A total of 37 elderly people recruited from S city were randomly assigned to the experimental group (n=22) and control group (n=15). The stim-up matt walking exercise program was offered twice a week for 8 weeks. Data were analyzed by SPSS 21.0. Results: The dynamic balance ability Timed Up and Go test of the experimental group was significantly faster than that of the control group (t=21.72, p<.001). The static balance ability open-eye standing test (t=44.15, p<.001) and close-eye standing test (t=9.01, p=.005) also showed increase in effects of the experimental group. In the walking ability, gait cycle (t=2.48, p=.018), cadence (t=-2.21, p=.034) and gait speed (t=-2.78, p=.009), positive effects were on. However, no statistically significant differences were found in stride length and double support. At the ankle joint range left ankle plantar flexion (t=3.92, p<.001) and left ankle dorsal flexion (t=4.51, p<.001) were higher in the experimental group than in the control group, and also right ankle plantar flexion (t=2.79, p=.008) and right ankle dorsal flexion (t=2.92, p=.006) increased in the experimental group. Conclusion: The significance of this study is that the stim-up matt walking exercise program for the frail elderly proves to be useful for improving balance and walking.