© 2014 by the authors; licensee MDPI, Basel, Switzerland. The purpose of this investigation was to determine if differences in inflammatory cytokines exist between fat-free mass responders versus non-responders following a combined resistance/aerobic training program in older women. Fifty women over 60 years old, mean BMI 27 ± 4 (kg/m2) and physically untrained, participated in a combined training program for 16-weeks. Body composition, muscle strength, and serum inflammatory markers (TNF-α, CRP, and IL-6) were assessed at baseline and 16-weeks post-training. A significant time effect was observed for weight, %fat, fat mass, and all strength measures (p < 0.05). A group interaction was observed for TNF-α (p < 0.05), which revealed higher concentrations of circulating TNF-α at baseline (18%) and post-exercise training (24%) in non-responders compared to responders (p < 0.05). In conclusion, this study revealed a significantly greater concentration of circulating TNF-α in older women that do not increase fat-free mass following training.