The purpose of this study was to explore the relationships between several physical performance variables and bone parameters in a group of middle-aged men. 50 middle-aged men participated in this study. Body composition and bone variables were evaluated by DXA. Bone mineral density (BMD) was measured at the whole body (WB), total radius (TR), lumbar spine (L1-L4), total hip (TH) and femoral neck (FN). Geometric indices of femoral neck (FN) strength were also calculated by DXA. Handgrip strength, vertical jump, maximum power of the lower limbs (watts), maximal half-squat strength, maximal bench-press strength, sprint performance (10 m) and maximum oxygen consumption (VO max, L/min) were evaluated using validated tests. VO max (L/min), maximum power of the lower limbs, maximal half-squat strength, maximal bench-press strength, handgrip and lean mass were positively correlated to many bone parameters. Lean mass was the strongest determinant of WB BMC. VO max (L/min) was the strongest determinant of WB BMD, TH BMD and FN BMD. Maximum power was the strongest determinant of total radius BMD. The current study suggests that VO max (L/min), lean mass and maximum power of the lower limbs are the strongest determinants of bone variables in middle-aged men.