An exercise device includes two cranks rotatably coupled to a rear portion of a upright support and each having a pivot rod, two handles having a middle portion pivoted to a front portion of the upright support with a spindle, two foot supports pivotally coupled to the handles and each having a middle portion pivotally coupled to the pivot rod of the cranks with a link, the front portions of the foot supports may be controlled by the handles to allow the foot supports to be actuated as a stepping exerciser when the front portions of the foot supports are stably held in place by the handles, and to allow the foot supports to be actuated as an elliptical exerciser when the handles are swung by the user.