An exercise-effect determining method includes measuring a pulse wave signal and a body motion signal of a user at the time when the user is performing predetermined exercise, calculating a pulse rate during exercise on the basis of the pulse wave signal and the body motion signal, obtaining, on the basis of lactate level information representing a relation between a pulse rate and a blood lactate level of the user acquired in advance and the pulse rate during exercise, an exercise-effect determination result of determination of an effect degree of the predetermined exercise contributing to physical strength of the user, and informing the user of the exercise-effect determination result.
