The events of apnea/ hypopnea are characterized by recurrent pauses in breathing during sleep, which can impair its quality. Studies show that physical exercise performed at sea level can be a good strategy to improve such events. However, in condition of hypoxia, little is known on the influence of exercise on the Index of apnea/ hypopnea. Purpose: To evaluate if, in condition of hypoxia, the index of apnea/ hypopnea is altered and if the acute physical exercise performed in this condition can influence this index. METHODS: Thirty-eight healthy men were included in the study, distributed randomly into four groups: Normoxia n=10, Hypoxia n=10, Exercise in Normoxia n=10 and Exercise in Hypoxia n=8. Sample characteristics were: age 23 ± 8 years, body mass 71 ± 7 kg, height 1.76 ± 0.6 m, BMI 22 ± 9 kg/ m2 and peak VO2 47 ± 4 ml/ kg/ min. Exposure to hypoxia began at 8:00 A.M. and lasted 24 hours in a simulator of altitude (Colorado Altitude Training ™ / CAT-12 Air Unit), equivalent to 4,500m. After 4 hours of exposure to hypoxia one session of physical exercise of 60 minutes at 50% of peak VO2 was performed. The indexes of apnea/ hypopnea were assessed by polysomnography from 22:00 P.M. to 8:00 A.M. Comparisons were made using ANOVA One Way. RESULTS: There was an increase in the index of apnea/ hypopnea (12.4 ± 1.2 vs. 0.7 ± 0.1per hour, p<0.05), apnea index (4.0 ± 1.3 vs. 1.3 ± 0.2per hour, p<0.05) and hypopnea index (8.9 ± 1.0 vs. 1.4 ± 0.5per hour, p<0.05) in the hypoxia group compared to normoxia group. However, no significant differences in the index of apnea/ hypopnea were observed, index apnea and index hypopnea of sleep in normoxia group vs. exercise in normoxia group and hypoxia group vs. exercise in hypoxia group. CONCLUSION: The condition of hypoxia increases the index of apnea/ hypopnea of sleep, similar to those with obstructive sleep apnea/hypopnea syndrome. Acute physical exercise performed in hypoxia condition does not reduce the index of apnea/ hypopnea generated by hypoxia. Thus, it is suggested that people with obstructive sleep apnea should avoid places of high altitude. The practice of acute physical exercise for healthy youth in these conditions was not efficient. Supported by FAPESP n ° 2012 / 09236-4