Abstarct: Objective: Obesity is associated with chronic inflammation, impaired bone mextabolism, and changes in the exxpression of bone-building factors, and can increase the risk of decreased bone quality and fracture. On the other hand, physical activity is known as one of the most effective non-pharmacological strategies in improving bone health, but the effect of different exercise intensities on bone-building markers has not yet been fully elucidated. Therefore, the aim of this study was to compare the effect of different aerobic exercise intensities on bone-building factors in inactive obese men. Methodology: This study is a quasi-experimental study with a pretest-posttest design and a control group. Participants included inactive obese men who were randomly assigned to moderate-intensity exercise, high-intensity exercise, and a control group. The exercise program was implemented for several weeks and in several sessions per week. Blood samples were collected before and after the training period and the concentrations of osteogenic markers including FGF-23 and osteopontin (OPN) were measured using ELISA. Data were analyzed using analysis of variance and post hoc tests at a significance level of P<0.05. Findings: The results showed that exercise training improved the status of factors related to bone mextabolism. Also, a significant difference was observed between different training intensities in terms of the amount of changes in osteogenic markers, such that one of the training intensities had a more favorable effect on the regulation of FGF-23 and osteopontin levels than the other groups (P<0.05). Conclusion: It seems that aerobic training, especially at an appropriate intensity, can help promote bone health in inactive obese men by improving the regulation of osteogenic markers. Therefore, the use of targeted intensity exercise programs can be considered as an effective non-pharmacological strategy in the prevention of obesity-related bone disorders.