A vibration exciter, particularly for a vibration pile driver, includes at least four shafts disposed parallel to one another, on which two outer imbalance masses are disposed, in each instance, between which a central imbalance mass is positioned. The central imbalance mass is mounted on the shaft so as to rotate relative to the outer imbalance masses, in each instance. The imbalance masses of the at least four shafts are combined into two imbalance groups, the imbalance masses of which are all synchronized with one another in torsionally rigid manner, in each instance, wherein not only outer imbalance masses but also inner imbalance masses are provided in each of the two imbalance groups, and wherein a phase shifter is provided, by way of which the phasing of the two imbalance groups relative to one another can be adjusted.