Previous studies on adipocyte function have revealed that adipose tissue is not only an energy-storing organ, but also a secretor of a variety of biologically active molecules named adipocytokines. Since adipocytokines were discovered, tons of investigators have been examining their role in metabolic homeostasis and diseases. Adiponectin, one of the adipocytokines, has recently attracted widespread attention, especially in the diabetes field, due to its beneficial anti-diabetic and anti-atherosclerotic effects in the regulation of energy homeostasis and insulin sensitivity . In addition, it has been shown that adiponectin function is involved in the pathologies of cancer and rheumatoid arthritis . Because of its numerous beneficial biological functions, it is suggested that adiponectin administration is a potential therapeutic agent and that treatments increasing blood adiponectin levels and stimulating adiponectin action benefits healthy problems. Bone is continually remodeled according to physiological circumstances through bone formation by osteoblasts and bone resorption by osteoclasts, and bone mass and turnover are maintained by their coordinated balance in healthy adults. Many systemic and local factors such as insulin-like growth factor-I and bone morphogenetic proteins are known to be involved in the regulation. A number of basic and clinical studies investigating the effects of adiponectin on bone metabolism as well as its association with bone mineral density (BMD) and the risk of fracture have been reported. However, these studies suggest that adiponectin may have adverse effects on bone mass and fracture risks.