A stepping exerciser having a connecting device for training balance includes two stepping units and a connecting unit disposed between the two stepping units. Through the connecting unit, the two stepping units can be used in a stable state to enhance safety of use. Furthermore, because the connecting unit provides an angle adjustment function, the relative position of the two stepping units can be changed. The use of the stepping exerciser can be adjusted according to the user's own physical status and age. The present invention provides a variety of changes for use so as to train balance and muscles throughout the body. The exercise effect and amusement of use can be enhanced.