Breathing exercises are widely used to enhance respiratory function and athletic performance. This study aimed to assess the efficacy of a modified exercise regimen on respiratory parameters and its effect on the performance of young swimmers in competition. Thirty-one swimmers aged 16–17 from various clubs in Latvia were selected, comprising an experimental group (n = 15, height: 174.36 ± 7.85 cm, weight: 65.80 ± 9.35 kg, body mass index: 21.60 ± 1.54) and a control group (n = 16, height: 180.78 ± 7.05 cm, weight: 69.90 ± 6.49 kg, body mass index: 21.40 ± 1.56). With an average of eight years of experience, participants trained for approximately 43–45 weeks annually (pool and gym sessions), with an average training duration of 20 ± 2 hours per week. Measurements were conducted on days one and 30, involving spirometry and swimming performance assessment based on the best results in the freestyle 100-meter distance. The experiment consisted of a modified breathing exercise performed thrice weekly for four weeks. Significant improvements were observed in the experimental group compared to the control group in forced vital capacity (p = 0.02), peak inspiratory flow (p = 0.001), and performance (p = 0.001), with p-values < 0.05. However, no significant changes were noted in peak expiratory flow (p = 0.46 > 0.05). The findings indicate that modified breathing exercises effectively enhance respiratory parameters and performance in competitive swimmers.