Purpose: The purpose of this study was to explore the experiences of frail elders regarding self-rated health. Methods: A qualitative descriptive method was used. Data were collected using individual in-depth interviews and filed notes from seven frail elders in South Korea. A phenomenological approach was used to analyze the data. Results: The study clarified one core theme, four compositional elements, and ten transformation of meaning units of frail elders regarding self-rated health. The core theme ‘Self-acceptance through the downward comparison’ encompassed the compositional elements of (a) Unpredictable body, (b) Acceptance of the situation, (c) Creating my own health baseline and (d) Building supportive relationships. Conclusion: The results of this study provide valuable nursing knowledge for understanding the experiences of frail elders regarding self-rated health that will contribute to developing nursing intervention on their behalf.