The objective of this study was to evaluate physical function and health-related quality of life 4 months after the cessation of a 4-month exercise intervention in 89 older adults after discharge from hospital. Linear mixed regression models were used to evaluate between-group differences. Data were analyzed according to the intention-to-treat principle. There was no statistically significant between-group difference in the Short Physical Performance Battery (mean difference 0.5 points, 95% confidence interval [−0.6, 1.5], p = .378). There was a statistically significant difference in favor of the intervention group in functional capacity (the 6-min walk test; mean difference 32.9 m, 95% confidence interval [1.5, 64.3], p = .040) and physical health–related quality of life (physical component summary of medical outcome Study 36-Item Short-Form Health Survey; mean difference 5.9 points, 95% confidence interval [2.0, 9.7], p = .003). Interventions aiming to maintain or increase physical function and health-related quality of life should be encouraged in this population.