The purpose of this research was to investigate the effects of exercise performance capacity, fatigue recovery and oxidative stress level by ingestion of oxygenated water and hydrogen water before and after the exercise. The volunteers for this study were 18 male university students, who were selected by both qualifications; non-specific diagnose and non-smoker. Primary tests were examined of VO(2) max per weight of each subjects by graded exercise test using Bruce protocol. Each of six ubject was divided 3 groups(CON, OWG, HWG) by matched method based on VO(2)max per weight. For the secondary tests, the groups of subjects were taken their materials before and after exercise as a blind test. After the ingestion, subjects were xperimented of graded exercise test, using Bruce protocol, by treadmill until the all out. The results of this experiment were obtained by using SPSS 12.0 statistics package, and the average (M) and standard deviation (SD) were calculated by repeated measure ANOVA. The subsequent results were as follows; 1) Among the tested groups, HWG group was maintained the longest of exercise exhaustion time. There, however, was no significant changes of each other (p>.05). 2) In all the tested groups, OWG group showed the lowest heart rate of rest and playing exercise. There was significant differences of each time (p<.001), however, not significant differences of each groups and group verse time(p>.05). 3) As a result of each respiratory variables(VO(2), VO(2)max, V·CO(2), RER, VE, RR) by intake, All the intake groups showed the significant changes of time period(p<.001). OWG group expressed higher than the other intake groups, however, not significant differences of each groups and group verse time(p>.05). 4) Concentration of blood glucose was represented significantly in all the groups of time period(p<.001). Besides, CON group was produced the highest result, but was not shown significant differences of each groups and group verse time(p>.05). 5) SpO(2) of all the intake tested groups showed significant differences of time period(p<.001). Moreover, OWG group represented the highest tendency among the tested groups, but was not shown significant differences of each groups and group verse time(p>.05). 6) As a heart rate recovery rate of after the exercise, every group showed significant differences of time period(p<.001) and OWG group was expressed higher tendency than the other groups, but was not shown significant differences of each groups and group verse time(p>.05). 7) Concentration of blood lactate showed significant differences of each time period (p<.001) and each groups(p<.01). As a result, OWG group was expressed lower than CON group, significantly(p<.05). 8) Concentration of oxidative stress was showed great differences of all the intake groups. HWG group, especially, was remarked the lowest tendency of all the intake groups. Interactions of each groups and group verse time were not significant (p>.05). In conclusion, ingestion of oxygenated water and hydrogen water might be reduced lactate accumulation and oxidative stress what caused of body exhaustion, and increased exercise performance capacity. Therefore, effects as an ergogenic aid through the complex ingestion of oxygenated water and hydrogen water need obvious results by further studies.