An exercise bicycle is composed of a bicycle frame, a vibration device, a driving device, and a clutch device. The bicycle frame is provided with a pedal device. The vibration device and the pedal device are driven by the driving device such that the pedal device can be temporarily disabled by the clutch device. The vibration device is capable of actuating the bicycle frame to vibrate so as to massage the body of a user of the exercise bicycle while the user is engaged in the pedalling exercise. The exercise bicycle can be used as a body massaging machine by actuating the clutch device to disable the pedal device.