A shoe with a combined device for vapor permeation and forced air circulation including an assembly insole which is vapor-permeable or includes through holes, an upper which is fixed to the edges of the insole, a sole arranged below the insole and the edges of the upper, and at least one cavity, which is sealed from the rest provided inside the sole, the cavity having an upper wall which faces the vapor-permeable or perforated assembly insole and including a membrane which is waterproof and permeable to water vapor, the cavity having inlet and outlet ducts for changing the air contained therein.