The effects of consuming or omitting breakfast and exercise or rest on cognitive function, mood and appetite were assessed in twelve healthy male participants who completed four trials; no breakfast and rest, breakfast and rest, no breakfast and exercise or breakfast and exercise in a randomized cross-over design. The study design consisted; breakfast (or continued fast), a 2 h rest, an exercise (treadmill run at 60% VO 2 max to expend ∼710 kcal) or an equivalent rest period, a liquid snack, a 90 min rest period and finally an ad libitum lunch. Cognitive task performance, mood and appetite ratings and blood glucose were recorded frequently throughout each trial. Mental fatigue ratings were significantly higher when exercise was undertaken fasted rather than following breakfast. Consuming breakfast prior to resting significantly increased speed on a Rapid Visual Information Processing task (RVIP), an effect not seen when breakfast was followed by exercise. When fasted, exercise, compared to rest, suppressed hunger during exercise and temporarily after. Consuming breakfast prior to exercise enhanced this effect, with significantly lower hunger ratings seen in this condition compared to exercise following breakfast omission. In conclusion, consuming breakfast before exercise decreased mental fatigue ratings following cognitive task completion and exercise reversed the detrimental effects of breakfast consumption on RVIP reaction time. Although the results showing short term appetite suppression following exercise when fasted support previous research, it does appear that breakfast consumption prior to exercise may augment this outcome.