The alteration of ageârelated molecules in the bone marrow microenvironment is one of the driving forces in osteoporosis. These molecules inhibit bone formation and promote bone resorption by regulating osteoblastic and osteoclastic activity, contributing to ageârelated bone loss. Here, we observed that the level of microRNAâ31aâ5p (miRâ31aâ5p) was significantly increased in bone marrow stromal cells (BMSCs) from aged rats, and these BMSCs demonstrated increased adipogenesis and aging phenotypes as well as decreased osteogenesis and stemness. We used the gainâofâfunction and knockdown approach to delineate the roles of miRâ31aâ5p in osteogenic differentiation by assessing the decrease of special ATârich sequenceâbinding protein 2 (SATB2) levels and the aging of BMSCs by regulating the decline of E2F2 and recruiting senescenceâassociated heterochromatin foci (SAHF). Notably, expression of miRâ31aâ5p, which promotes osteoclastogenesis and bone resorption, was markedly higher in BMSCsâderived exosomes from aged rats compared to those from young rats, and suppression of exosomal miRâ31aâ5p inhibited the differentiation and function of osteoclasts, as shown by elevated RhoA activity. Moreover, using antagomiRâ31aâ5p, we observed that, in the bone marrow microenvironment, inhibition of miRâ31aâ5p prevented bone loss and decreased the osteoclastic activity of aged rats. Collectively, our results reveal that miRâ31aâ5p acts as a key modulator in the ageârelated bone marrow microenvironment by influencing osteoblastic and osteoclastic differentiation and that it may be a potential therapeutic target for ageârelated osteoporosis.