Objectives The objective of this study is to explore how HIV care affects health-related quality of life (HRQoL) among older people in Uganda. Methods We enrolled older-aged (≥49 years) people with HIV receiving HIV care and treatment, along with age- and sex-similar people without HIV. We measured health-related quality of life using the EQ-5D-3L scale. Results People with HIV (n = 298) and people without HIV (n = 302) were similar in median age (58.4 vs. 58.5 years), gender, and number of comorbidities. People with HIV had higher self-reported health status (b = 7.0; 95% confidence interval [CI], 4.2–9.7), higher EQ-5D utility index (b = 0.05; 95% CI, 0.02–0.07), and were more likely to report no problems with self-care (adjusted odds ratio [AOR], 2.0; 95% CI, 1.2–3.3) or pain/discomfort (AOR = 1.8, 95% CI, 1.3–2.8). Relationships between HIV serostatus and health-related quality of life differed by gender, but not age. Conclusions Older people with HIV receiving care and treatment reported higher health-related quality of life than people without HIV in Uganda. Access to primary care through HIV programs and/or social network mobilization may explain this difference, but further research is needed to elucidate the mechanisms.