This study was conducted by means of a quasi-experimental design to confirm the effects of memory training program. It's purpose was to develop an effective memory training program for the elderly and to verify the influence both on metamemory and on memory performance. The subjects of this study were 31 elderly, participants of J Welfare Institute in Seoul. This experimental group(16 persons) and control group (15persons) were assigned by means of the order their participation. The experimental group participated in a memory training program. Based on the studies of Fogler & Stern(1994), Whang & Lee(1990), Lee(1991), Lee(1993), this memory training program was performed twice a week for 2 hours each session. Dixon's MIA, Cho's Word Task, and also the Color Portrait Photograph as Face Recognition Task were used as measurement tools. The data were analyzed by t-test, Pearson correlation methods. The results of this study were as follows : 1. The metamemory score of the experimental group given memory training was higher than that of the control group. 2. The memory performance score of the experimental group was higher than that of the control group. 3. There was significance in the no relationship between memory performance and metamemory, except for a positive correlation with strategy as a subconcept in the experimental group. As a result, the memory training program proved to be very effective for the elderly, therefore in the future more study will be required in the field of memory training program development.