Objectives: To explore the relationship between exercise behaviors and depressive symptoms among NTU undergraduates. Methods: This cross-sectional study employed telephone interviews to obtain data regarding student exercise behaviors, depressive symptoms and factors influencing depressive symptoms. Results: A total of 62.7% of subjects exercised regularly, and only 24.2% met the exercise standards recommended by the American College of Sports Medicine (ACSM). Analytical results also showed that 33% of subjects had depressive symptoms and most were female. Gender, regular exercise frequency, perceived free time, perceived academic pressure and health status were predictors of depressive symptoms. Conclusion: Substantial relationships between exercise and depression symptoms. We recommend that student exercise regularly to maintain mental health.