The purpose of this study is to extend the literature by examining the effects of an acute bout of moderate to vigorous intensity aerobic exercise on the executive functions of planning and problem solving assessed using a Tower of London Task (TOL Task). Forty-two participants were randomly assigned into either exercise or control group, and performed the TOL Task, before and immediately following exercise or a control treatment. The exercise group performed 30 min of exercise on a stationary cycle at moderate to vigorous intensity while the control group read for the same length of time. Results indicated that the exercise group achieved improvements in TOL Task scores reflecting the quality of planning and problem solving, but not in those reflecting rule adherence and performance speed. These findings indicate that an acute bout of aerobic exercise has facilitative effects on the executive functions of planning and problem solving.