This meta-analysis investigated the effects of exercise on Visual Analog Scale (VAS) and Oswestry Disability Index (ODI) scores following vertebroplasty or kyphoplasty in osteoporotic fractures. A literature search of PubMed, EMBASE (Elsevier), CiNAHL, Cochrane Central Register of Controlled Trials, Cochrane Database of Systematic Reviews, Scopus, and Web of Science was conducted from database inception to October 6, 2022. Eligible studies reported osteoporosis patients over 18 years of age with a diagnosis of at least one vertebral fracture via radiography or clinical assessment. This review was registered in PROSPERO (ID:​ CRD42022340791). Ten studies met the eligibility criteria (n = 889). VAS scores at baseline were 7.75 (95% CI:​ 7.54, 7.97, I² = 76.11%). Following initiation of exercise, VAS scores at the endpoint of 12 months were 1.91 (95% CI:​ 1.53, 2.29, I² = 92.69%). ODI scores at baseline were 68.66 (95% CI:​ 56.19, 81.13, I² = 85%). Following initiation of exercise, ODI scores at the endpoint of 12 months were 21.20 (95% CI:​ 14.52, 27.87, I² = 99.30). A two-arm analysis demonstrated improved VAS and ODI for the exercise group compared to non-exercise control at 6 months (MD = −0.70, 95% CI:​ −1.08, −0.32, I² = 87% and MD = −6.48, 95% CI:​ −7.52, −5.44, I² = 46%, respectively) and 12 months (MD = −0.88, 95% CI:​ −1.27, −0.49, I² = 85% and MD = −9.62, 95% CI:​ −13.24, −5.99, I² = 93%). Refracture was the only adverse event reported and occurred almost twice as frequently in the non-exercise group than in the exercise group. Exercise rehabilitation post vertebral augmentation is associated with improved pain and functionality, particularly after 6 months of exposure, and may reduce refracture rate.