The purpose of this study was to investigate the differential effects of the determinants of life satisfaction among the elderly and a variety of health, economic, leasure activity, social support and psychological variables were comprehensively examined as determinants of life satisfaction among the elderly. The sample of this study was composed of 347 old people participating in the leasure activity programs operated by 10 facilities for the aged in Seoul. Data were collected using structured questionnaires and analyzed employing structural equation modelling technique as a main data analysis method. It was found that subjective health condition, subjective economic level, productive and consumptive leasure activities, spouse and children support, self-esteem and extraversion had positive effects on life satifaction among the elderly. The theoretical and practical implications of this study were discussed and the directions for future research were suggested.