Abstract: A dual-mode exercise machine includes a base, a swivel, two pedals, two impedance elements, a linkage and a pin. The swivel is pivotally connected to the base. The pedals are pivotally connected to the swivel. Each impedance element connects a related pedal to the swivel. The linkage includes a middle lever pivotally connected to the base and two lateral levers each for connecting a related pedal to the middle lever so that the pedals can be pivoted up and down alternately. The pin can be inserted in an aperture of the swivel and an aperture of the base to prevent the pivotal of the swivel but allow the pivotal of the middle lever. Alternatively, the pin can be inserted in an aperture of the middle lever and another aperture of the base to prevent the pivotal of the middle lever but allow the pivotal of the swivel.