A bicycle exercise apparatus is disclosed. The bicycle exercise apparatus comprises a frame body installed to be supported by a floor of an installation site and having an exercise space in a center thereof, a plurality of spring members each having one end that is installed on the frame body and the other end that is extended to the exercise space, and an exercise saddle installed in such a way that a lateral side thereof is connected to the other end of the spring member, to be able to be moved by an elastic force of the spring member.