The purpose of this study was to evaluate exercise self-efficacy in older women with stable New York Heart Association Functional Class II and III heart failure who were enrolled in a 12-week, home-based, low- to moderate-intensity combined walking and education program. Findings indicate that participation in a 12-week, home-based walking program improved self-efficacy for exercise adherence and workload physical function. Women in the program also improved in 6-minute walk distance, depressive symptoms, and quality of life at 12 weeks, while control participants had no change on any measures. These results support that an exercise intervention that progresses gradually has potential to improve exercise self-efficacy, physical function, depressive symptoms, and quality of life in women with heart failure compared to education alone.