Background and objective Post-menopausal women are a population susceptible to osteoporosis. The objective of this study was to determine the effects of a combined physical exercise program including impact, strength and progressive resistance exercises in post-menopausal women. Materials and methods Prospective quasi-experimental study, with an intervention group that included post-menopausal women with no prescribed pharmacological treatment for the prevention of osteoporosis. A 2-year intervention program was implemented, with 2 training sessions per week, based on impact, strength and progressive resistance exercises. The T-score index in the femur and lumbar spine was estimated in order to determine possible changes in bone mineral density after the intervention. Results A total of 16 women, with a mean age of 49.4 (SD: 5.2) participated. After the intervention, no significant differences were found with respect to baseline T-score of femur and spine (P>.05), suggesting that bone density levels were maintained after 2 years. Conclusions Two years of osteoporosis prevention training based on a combined resistance, strength and impact program is effective in maintaining bone mineral density levels in post-menopausal women. The results suggest that physical exercise without pharmacological treatment is effective for the prevention of osteoporosis in this population.