Introduction: The purpose of the present study was to investigate the effect of aerobic and resistance training during a Ketogenic Diet (KD) on serum levels of adipokines and insulin resistance indices in overweight or obese men. Method: A total of 36 overweight or obese men were randomly divided into three groups, namely Aerobic Training during KD (AT-KD), Resistance Training during KD (RT-KD), and KD alone (KD). In addition to following the KD, the training groups performed aerobic or resistance training three days per week for six weeks. For statistical analysis, the mixed two-way analysis of variance test with a significance level of less than 0.05 and SPSS software was used. Results: The serum levels of adiponectin, resistin, and SFRP5 did not differ significantly between the groups. In all groups, resistin had a significant decrease, whereas adiponectin and SFRP5 had a significant increase, compared to the pre-test. The serum levels of glucose, insulin, and triglycerides, as well as insulin resistance and sensitivity indices, were not significantly different between the groups. A significant decrease in glucose and triglyceride levels was observed in the three groups compared to the pre-test. Both KD and AT-KD groups significantly decreased insulin and HOMA-IR and increased McAuley indices compared to the pre-test. Only the AT-KD group significantly increased the QUICKI index compared to the pretest. Conclusion: Both AT-KD and RT-KD improved the level of adipokines in overweight or obese men. However, there was no difference between the two types of training. Despite the lack of difference between the two types of exercise, aerobic training may be more effective than resistance training during a KD