Objective: The main objective of this research was to evaluate the effect of strength and balance exercises on postural balance, muscle strength and quality of life in elderly people, with the aim of preventing falls. Methods: The research was conducted from May to September 2022 at the Sano Health Institution in Split. 50 subjects aged 65-85 were included, of which 25 subjects performed strength and balance exercises, while 25 subjects did not perform exercises. The exercises were performed in a small group of five people under the guidance of a physiotherapist. During 12 weeks, the exercises were performed three times a week, with a duration of 50 minutes per training session. Training included warm-up and aerobic exercises during the first 15 minutes, strength and balance exercises during the next 30 minutes, and stretching exercises lasting 5 minutes. Before joining the exercise program and after 12 weeks, tests of muscle strength and balance were performed. To test muscle strength, the test of consecutive standing up from a sitting position and the "time up and go" test were used, and to test balance, the Romberg test, the Tandem stance test and the four-phase balance test were used. The Croatian version of the SF-36 questionnaire was used to assess the impact of exercises on the quality of life of the respondents. Results: After 12 weeks of exercises, the exercise group showed a statistically significant improvement in muscle strength compared to the control group. Also, a significant improvement in the performance of balance tests, including the Romberg Test, the Tandem Stance Test, and the Four Phase Balance Test, was observed in exercisers compared to non-exercisers. Exercisers experienced an improvement in physical functioning and a reduction in limitations caused by physical and emotional difficulties, as well as a reduction in physical pain. Conclusions: The results of this research indicate a beneficial effect of strength and balance exercises on improving muscle strength, balance and quality of life in elderly people. It is recommended to include strength and balance exercises in the regular exercise of older adults as part of a fall prevention strategy. Despite the limitations of this study, the obtained results provide a basis for further research that could investigate in more detail the optimal combinations of exercises, the number of repetitions and the types of exercises for the prevention of falls in the elderly.