Purpose: This research was done to determine and analyze the essence and meaning of life for elderly prostate cancer patients based on their lived experiences during treatment. Methods: In-depth individual interviewers collected data between June and August 2011. The interviewees were 11 elderly men with prostate cancer being treated in K Hospital. A phenomenological methodology was used and Colaizzi's analysis method was applied with the suggested, research question, “What is the lived experience of elderly men with prostate cancer?” Results: The categories of the lived experience of elderly men with prostate cancer were identified as follows. Placid adaptation, Life controlled by urination, Shrinking social life, Losing the meaning of life, Abandonment of sexual life. Conclusion: Elderly men with prostate cancer show placid adaptation, but they have an uncomfortable life experience because of urinary incontinence and sexual dysfunction. Finally they shrink from social life and they feel all is lost. Therefore, nurses should provide excellent individual nursing care for these patients and make efforts in multilateral approaches to expand their social support network.