Purpose: This study examined the effects of physical fitness and aging anxiety on life satisfaction among the elderly. Methods: The participants were 119 elderly. Data collection was conducted from July 1 to 10, 2018. Data were analyzed using descriptive statistics, t-tests, ANOVA, Pearson's correlation coefficients, and multiple linear regression analysis with SPSS software. Results: The mean life satisfaction score was 4.10. Life satisfaction differed significantly according to several general characteristics: education level (p=.014), income (p<.001), living with partner (p=.041), perceived health status (p<.001), and number of chronic diseases (p<.001). Statistically significant positive relationships were observed between life satisfaction with muscle strength (r=.20) and, flexibility (r=.21), and a negative relationship was observed with aging anxiety (r=-.66). A total of 60.0% of life satisfaction was explained by income, perceived health status, muscle strength, flexibility, and aging anxiety. Conclusion: These results can be used to develop life sports programs to improve physical, social, and emotional health promotion with consideration for support to alleviate economic burden. Effect of life sports are evident as a way for healthy and energetic elderly. It should not be a simple exercise program but an integrated plan for improving physical, mental, and social health of the elderly.