Many people recognize the importance and positive effects of physical exercise on physical health, but despite that, most people are less physically active than the recommended minimum of 2 and a half hours a week. The relationship between physical activity and mental health is a topic of numerous researches because of potentially important findings for treatment and most importantly - prevention of some psychiatric disorders such as depression and anxiety. The results are important for the both clinical and subclinical population. Previous studies have reported reduced symptoms of anxiety, depression and lower levels of stress in physically active people. It has also been found that physical activity is positively associated with positive affects, better health perception and improved self-image. Mechanisms underlying this relationship are not yet clear, and various psychological, physiological and biochemical mechanisms have been proposed. Despite the promising results of exercise being highly beneficial in means of increasing the health condition, some negative and neutral effects on physical and mental health have also been found. In order to obtain more consistent and reliable results as well as information on the mechanisms through which physical exercise and mental health are associated, more controlled studies are needed on different age populations. The aim of this study was to determine whether there are differences in the results of anxiety, stress and life satisfaction between regular exercisers and non-exercisers, and to investigate the differences in anxiety, stress and satisfaction with life in relation to exercise frequency. The study involved 122 students aged 18 to 28. Subscales of anxiety and stress from Scale of depression, anxiety and stress and Life satisfaction scale have been applied. It was found that there is no difference in stress and anxiety between exercisers and non-exercisers, while it was found that students who are physically active have a higher life satisfaction than those who are physicaly inactive. Furthermore, it has been found that there is no difference in anxiety, stress and life satisfaction among students who report different frequency of physical activity.