The purpose of this study was to investigate an index based on the trajectory of the center of mass (COM) to determine whether it could distinguish between stable and unstable gaits. Eleven healthy males volunteered for this study. To generate an unstable gait condition, we used a separated-belt treadmill. The treadmill belt could be driven at the same speed (stable condition) and at different speeds (unstable condition). In the stable condition, the subjects walked at slow (1.0 km/h), normal (2.5 km/h), and fast (5.0 km/h) rates. In the unstable condition, the subjects were perturbed by randomly decelerating and accelerating one side of the walking belt (0.1 km/h - 5.0 km/h). Lateral sway of COM and stride time were calculated from the trajectory of COM in the frontal plane, and these values were compared between the stable and unstable gait conditions. The result was that coefficient of variation and standard deviation of lateral sway and stride time increased significantly only in the unstable gait condition, while the values were not influenced by gait speed changes between the three stable gait conditions. The results suggest that the trajectory of COM could be used to indicate the stability of the gait, in terms of both spatial and temporal factors.