Abstract: A flywheel mounting assembly for an exercise bicycle has a flywheel, a housing, at least one bearing, a holder and a hub. The housing defines a mounting space and an inner surface. The at least one bearing is mounted in the mounting space of the housing. The holder is tubular, has a mounting hole, an end rotatably mounted in the at least one bearing and an end extending through and being mounted securely with the flywheel. The hub is mounted securely in the mounting hole of the holder and has an axle extending through a center of the hub. Accordingly, weight and rotation of the flywheel is supported by the housing and stress is equally sustained by the housing, bearing, holder and hub. Therefore, deformation or distortion may be effectively prevented for smooth and stable flywheel rotation.