Background: To promote optimal neuromuscular and cardiovascular gains in older adults, it seems crucial to investigate the effects of different combined training volumes in this population. Thus, the present study aimed to compare the effects of combined muscle power training (MPT) and endurance training (ET) with different volumes on functional and hemodynamic parameters in previously trained older adults. Methods: Twenty-five older adults were randomly assigned to either the lower-volume group (LVG; n = 13) or the higher-volume group (HVG; n = 12). In the LVG, participants performed 1 set of 6 repetitions for each exercise, followed by 10 min of walking exercise. In the HVG, participants performed 2 sets of 6 repetitions for each exercise, followed by 20 min of walking exercise. Lift from the ventral decubitus position (LPDV), timed up-and-go (TUG), systolic blood pressure (SBP), and diastolic blood pressure (DBP) were assessed before and after 8 weeks. Results: Significant increases in LPDV test occurred in both groups after 8 weeks (p < 0.05). Additionally, significant improvements in TUG performance occurred in both groups from week 0 to week 8 (p < 0.05). However, no significant changes were observed between groups in functional parameters (p > 0.05). SBP and DBP remain unchanged (p > 0.05) in both groups over the experimental period. Conclusions: These findings indicate that lower-volume and higher-volume of combined MPT and ET promoted improvements in functional parameters. This study has an important practical application, as it indicates that regardless of the volume (lower or higher), comparable improvements are observed in functional parameters in previously trained older adults.