Population aging creates the need to preserve their well-being and quality of life. Physical exercise in the aquatic environment is presented as a viable option under the premise of the health of the elderly. It is therefore considered as a field of scientific interest. The aim of this study is to analyse the scientific production about aquatic exercise for the elderly, between 2005 and 2019. The methodology is based on the criteria established for systematic reviews. The search was focused on periodicals in the Web of Science and in Scopus. 91 articles were obtained that met the established inclusion and exclusion criteria and some bibliometric aspects were analyzed (chronological aspects, authorship, country, journal, language and research topic). The results show relevant data on the increase in publications during the last five years analyzed, the relevance of Brazilian authors or the predominance of English as a vehicular language, among others. In addition, it has been identified that the topics that lead the research regarding aquatic exercise programs in older people are physical condition and health, the risk of falls and gait. The results confirm the importance of physical exercise in the aquatic environment with regards to the well-being of the elderly.