A systematic review addresses the high prevalence of depression in elderly individuals with cancer, emphasizing its relationship with more severe physical symptoms, compromised quality of life, extended hospitalizations, increased emergency room visits, and reduced overall survival. The primary objectives were to compile, congregate and discuss existing evidence concerning risk factors associated with depression in elderly patients diagnosed with cancer. The methodology employed involved searching international journal databases between April 2023 and June 2023, using the Boolean descriptor "AND". The following descriptors were utilized in ScieLO, PubMed, and MEDLINE: "Risk Factors AND Depression" AND Aged AND Medical Oncology. In Science Direct, the following combination was used in English: "Risk Factors" AND "Depression" AND "Geriatrics" AND "Medical Oncologic." The search aimed to identify the key risk factors related to the development of depression in elderly oncology patients, understanding their connection to diminished quality of life. Eight distinct articles were identified. The results indicated the following key risk factors: the presence of comorbidities and functional limitations, family arrangement and advanced age, female gender, limited contact with relatives, income, more advanced cancer stage, surgical history, educational level and social isolation. Therefore, the review reinforces the importance of a support network during the discovery of cancer in the elderly, to face possible difficulties related to the disease and its treatments, as well as monitoring psychological, strengthening support networks and integration with multidisciplinary teams to improve mobility and autonomy.