A swingable exercise bike includes a base, a bike body and multiple cushion units. The base has two horizontal tubes. The bike body is pivotally connected with the base and has a bike frame and two swinging seats. The swinging seats are respectively securely mounted on a front end and a rear end of the bike frame. The cushion units are elastic and are mounted between the horizontal tubes and the swinging seats, each cushion unit having a fixed end and a free end opposite to the fixed end. The cushion units can help the bike body simulate a situation of riding a real bike, and provides fun and variations during exercising.