The purpose of this study is to find out effects of spiritual and practical wellbeing on death anxiety that the elderly experience. In the pursuit of this purpose, first of all, the elderly’s level of death anxiety was measured. Secondly, what effects spiritual wellbeing and practical wellbeing have on death anxiety was examined while spiritual wellbeing has religious wellbeing and existential wellbeing as its sub factors and practical wellbeing has physical wellbeing and psychological wellbeing as its sub factors. Thirdly, in the relationship between spiritual wellbeing and death anxiety, mediating effect of practical wellbeing has been studied. The participants used in random sampling were 750 people over 60 years old from Gwangju city, Cheollanamdo, and Cheollabukdo who are in nursing homes and regularly visit senior citizens' centers or schools. A questionnaire survey was conducted among them. Out of 710 questionnaires collected, 680 were chosen for the final analysis using SPSS win 12.0 and Amos 7.0. Since the relationship between practical wellbeing and death anxiety(P=.873) and spiritual wellbeing and death anxiety(P=.861) turned out not to be meaningful, a modified model was chosen as the final model. As a result, spiritual wellbeing and practical wellbeing have proved to have a direct and indirect effect on death anxiety in a negative way and spiritual wellbeing makes the sampled elderly have even less death anxiety when it is mediated by practical wellbeing. Based on the result above, measures to lessen the death anxiety of the elderly people have been suggested, which will lead them to achieve happiness and wellbeing in their old age.