Objective: To assess relations of mood changes, exercise, and weight loss among formerly sedentary obese women (N=76; Mean BMI=36.6) reporting weight loss goals. Methods: At baseline and month 6, participants completed the Profile of Mood States scales of depression, tension, and total mood disturbance and were assessed on attendance in exercise sessions and changes in weight. Results: Significant positive correlations were found between weight changes and each mood factor at baseline (r=.31 to .40) and changes from baseline to month 6 (r=.41 to .47). Multiple regression analyses suggested exercise attendance and mood changes significantly contributed to explained variances in weight changes (R2=.22 to .28). Conclusions: Mood factors and incorporation of exercise may have implications for health behavior theory and weight loss treatments.