Hi Martina. How about ‘one of the best?’ One of the best exercises for the excess body fat around the abdominal and oblique areas causing “love handles” would be aerobic or cardio exercise. By performing consistent aerobic or cardio exercise such as walking, jogging, running, biking etc., as PART OF a well-rounded and safely-designed exercise program, the love handles will begin to disappear. Of course ‘proper diet’ is a part of this total equation as well, but since you only ask about ‘exercise’ here, I am limiting my response to that topic.
As always, before beginning exercise the person (exerciser) should check with his or her physician to make sure that exercise is proper for them.
I hope that this helps.