The aim of this study was to investigate the response of vascular endothelial growth factor (VEGF) to a bout of exhausted submaximal exercise and its correlation with VO2max in different bouts. Therefore, 12 active men (mean age: 24 years) were randomly selected and performed the submaximal exercise. Blood samples were collected before, immediately and two¬¬ hours after the exercise training. Data were analyzed using one-way ANOVA and Pearson correlation coefficient (a=0.05). Serum VEGF increased significantly immediately (p=0.000) and two hours after the exercise (p=0.000). In addition, there was no significant relationship between serum VEGF and VO2max before the exercise training (p=0.352) while there was a significant relationship immediately (p=0.006) and after two hours (p=0.026) after the exercise. In conclusion, one bout of exhausted submaximal exercise can be a stimulus to increase angiogenic factor of VEGF and the more the subjects’ aerobic power, the more they might experience angiogenesis.