Past studies have been pointed out that obesity is a risk factor for many chronic diseases, and lack of exercise is the main cause of obesity. Nearly 80% of college students in Taiwan are not engaged in regular exercise. Therefore, the purpose of this study was to apply Health Belief Model to analyze the correlation between potential factors that affect exercise behavior. In this study, a cross-sectional study was conducted. The population was college students in Taichung City. A structured questionnaire, was used to collect data, including demographic variables, exercise health belief scale and exercise behaviors. The scale of exercise and health belief is divided into five dimensions (perceived barriers, perceived benefits, and cues to action, perceived susceptibility and possibility of exercise). Using stratified randomization and cluster sampling, 1500 questionnaires were delivered and 1414 valid questionnaires were done. The internal consistency reliability testing of all scales, and all Cronbach α value reached 0.7 or more. The results showed that subjects were low in physical activity. Body mass index (BMI) of subjects which 65.7% was normal, 15.6% was overweight and 18.7% was underweight. The score of perceived barriers, perceived benefits, cues to action, perceived susceptibility and possibility of exercise was 2.98, 3.72, 3.23, 3.36 and 3.28, respectively. Multiple regression analysis showed that the performance of exercise behavior among students in national universities was lower than that of other college students, and girls were superior to boys. In addition, there was a negative correlation between exercise behavior and perceived barriers. Also, there was a positive correlation between cues to action, perceived susceptibility and BMI.