Objective: To explore the sequential effects of hypoxic exercising on miR-27/PPAR γ and lipid metabolism target gene and protein expression levels in the obesity rats’ liver. Methods: 13-week-old male diet-induced obesity rats were randomly divided into three groups (n＝10): Normal oxygen concentration quiet group (N), Hypoxia quiet group (H), Hypoxic exercise group (HE). Exercise training on the horizontal animal treadmill for 1 h/day, 5 d/week for a total of 4 week, and the intensity of horizontal treadmill training was 20 m/min (hypoxic concentration was 13.6%). To weigh perirenal fat and epididymal fat, weigh body weight and measure body length to calculate Lee’s index. And to detect the serum concentrations of total cholesterol (TC), triglyceride (TG), low density lipoprotein (LDL-C), high-density lipoprotein (HDL-C) levels. The RT-PCR and Western Blot were used to detect the levels of miR-27, PPAR γ, CYP7A1 and CD36. Results: (1) Hypoxic exercise decreased the expression levels of miR-27 in the obese rats’ liver, however, the expression level of PPAR γ was gradually increased. And the expression levels of miR-27 in HE group were significantly lower than N group(P＜0.05). The expression levels of PPAR γ mRNA in N group were significantly lower than H group (p < 0.05), especially lower than HE group (p<0.01). The protein expression of PPAR γ protein in N group was significantly lower than that other groups (p < 0.01). (2) The expression of lipid metabolism-related genes and proteins increased in the obese rats’ liver. The expression of CYP7A1 mRNA in N group was significantly lower than H group (p＜0.05), especially lower than HE group (p＜0.01). The expression of CYP7A protein in the obese rats’ liver in N group was extremely lower than H group and HE group (p<0.01). And the protein expression of CD36 in N group was significantly lower than that in HE group (p<0.05). (3) Hypoxia exercise improved the related physiological and biochemical indexes of lipid metabolism disorder. The perirenal fat weight of obese rats in HE group was extremely lower than N group and H group (p<0.01), and the perirenal fat weight in N group was significantly higher than H group (P＜0.05). The epididymal fat weight in N group was significantly higher than H group (p＜0.05), and extremely higher than HE group (p＜0.01). The Lee’s index in HE group was extremely lower than N group and H group (p＜0.01). The serum concentration of TC in obese rats in HE group was extremely lower than N group and H group (p<0.01). The serum concentration of TG in HE group was extremely lower than N group and H group (p<0.01). And the serum concentration of LDL-C in N group was extremely higher than HE group (p<0.01). And the serum concentration of HDL-C in N group was extremely lower than H group (p<0.01). Conclusion: Hypoxia and hypoxia exercise may negatively regulate the levels of PPARγ by inhibiting miR-27 in the obese rats’ liver, there by affecting the expression of downstream target genes CYP7A1 and CD36, and promoting cholesterol, fatty acid oxidation and HDL-C transport in the liver. Finally, the lipid levels in obese rats were improved. And the effect of hypoxia exercise on improving blood lipid is better than simple hypoxia intervention.