The present invention relates to a physical exercise machine, particularly for the rehabilitation or training of limbs, which may be adapted to both the lower and the upper limbs, for both passive and active therapies.Particularly the present invention relates to a machine (1) for the physical exercise of limbs, comprising a frame (2) on which translational-rotational members (3) of an upper or lower limb are mounted, said translational-rotational members (3) being operatively connected to motorization means (4, 4), characterized in that said translational-rotational members (3) comprise:- a first pair of pulleys (11, 11) arranged in the proximity of an end of the frame (2), the pulleys (11, 11) of said first pair being arranged along a substantially vertical axis- a second pair of pulleys (12, 12) arranged in the proximity of the opposite end of the frame (2), the pulleys (12, 12) of said second pair being arranged along a substantially vertical axis- a carriage (13) mobile along a longitudinal axis (X)- a third pair of pulleys (14, 14) arranged on said carriage (13), the pulleys (14, 14) of said third pair being arranged along an axis substantially parallel to the axis (X)- a driving member (15) operatively connecting said first (11, 11), second (12, 12), and third pairs of pulleys (14, 14),and wherein at least one pulley (11, 12) of each of said first (11, 11) and second (12, 12) pairs of pulleys is operatively connected to the respective motorization means (4, 4).