The purpose of this study is to find out the effects of depression on older adults' metamemory and memory performances. The subjects of the study consisted of 103 older adults over the age of 60 who are living in Kangwon Province. Some data were collected by means of the interview method, using questionnaires for metamemory (MIA questionnaire by Hultsch, et al., 1988), and depression(GDS by Yesavage and Sheikl, 1986). Other data were collected by a testing method on the memory performance, such as the immediate word recall task, the delayed word recall task, the word recognition task(Elderly Verbal Learning Test by Kyung Mi Choi, 1998), and the face recognition task(Face Recognition Task tool developed by this study). The results of this study were as follows: 1) The average point of depressed older persons' metamemory is 3.2 on a 5 point scale and was significantly lower than nondepressed older persons' point of 3.6. Looking into each sub-concept of metamemory, depressed persons' points are higher in terms of task(4.1), but are lower in terms of change(2.3), locus(2.6), and strategy(2.9) in comparison with nondepressed persons' points. 2) Depressed older persons' memory performances are all significantly lower than nondepressed person's, especially in terms of face recognition task(t=7.26, p<.0082) and word recognition task(t=6.58, p<.01). 3) In both depressed and nondepressed persons, metamemory has a close correlation with all memory tasks. In particular, depressed older persons' correlation is higher across the board, especially in memory self-efficacy of metamemory(r=.36 - .49) in comparison with nondepressed persons. 4) According to the results of analysis on the relations between metamemory and memory performances of each memory task using canonical analysis, in the case of depressed older persons, strategy, locus, capability and task have high correlation with word recognition task and delayed word recall task. Also in the case of nondepressed persons, achievement, strategy, change and locus variable have high correlation with face recognition task and immediate word recall task. As mentioned above, depression variables have a negative effect on older persons' metamemory and memory performance. In conclusion, when we care for depressed older persons with less memory ability, we have to consider the outcomes of this study are relevant. In addition, it is necessary to develop nursing intervention in order to prevent memory loss and improve memory performance in depressed older persons.