The purpose of this study was to examine the participation satisfaction of elderly participants in the job creation project for the elderly, their living satisfaction, life satisfaction and the influence of their participation satisfaction in the project on their living satisfaction and life satisfaction. The major findings of the study were as follows: First, the senior citizens who participated in the job creation project for the elderly expressed a relatively high satisfaction with the project, but the level of their living satisfaction and life satisfaction was not that high. The elderly people who participated in the educational programs of the project were more satisfied with their own participation, living and life. Second, the senior participants who were more gratified with their own participation were more satisfied with their living and life. Third, the living satisfaction and life satisfaction of the elderly participants were under the largest influence of their educational satisfaction, which was part of participation satisfaction. The findings of the study suggest that more educational programs should be offered to step up the expansion of the job creation project for the elderly. In order to boost the living satisfaction and life satisfaction of the elderly, more intensive education should be provided on the job content of the job creation project for the elderly, and the development and implementation of appropriate educational programs are required as well.