This study investigates the effect of the relationships among ethical leadership, LMX(leader-member exchange) and job satisfaction, and the mediating effect of LMX on the relationship between ethical leadership and job satisfaction. In order to verify the relationships and the mediating effect, the data obtained from convenient sample of 256 nurses in a city were analyzed by using SPSS 12.0. The findings were as follows: First, ethical leadership were positively related to LMX and job satisfaction. Second, LMX was positively related to job satisfaction. Finally, LMX played as a partial mediator on the relationship between ethical leadership and job satisfaction. Based on these findings, the implications and the limitations of the study were presented including some directions for future studies.