Studying the process of aging and old age is an important question in social sciences. The quality of life at this age, among other things, is being enriched with new life opportunities and challenges, as well as developmental tasks every single individual has to face with. Therefore the focus of this research is the correlation of the quality of life and depressiveness with different demographic characteristics of older people in Serbia. The demographic variables included: gender, age, education, marital status and monthly income of the respondents. The quality of life is measured using the Older People's Quality of Life Questionnaire - OPQOL (Bowling, 2009), as well as several questions on life domain satisfaction and chronical disease, while depressiveness was measured using Geriatric Depression Scale - GDS (Greenberg, 2007). The sample was a convenience one, consisted of 497 respondents, 50,35% of men and 49,7% of women, 65-92 years old. The final results show that the quality of life of older people in Serbia is within the average range, and depressiveness belongs to the -category with the level of mild occurence. Men are more satisfied with a job they have or used to have, while women better estimate their independence and control over their life. The age of respondents positively correlates with marital satisfaction, satisfaction with job, with parental role, health, social relations, independence and monthly incomes. The amount of monthly income positively correlates with job satisfaction and well-being, while it is negatively correlated with health, social relations, independence, home and neighbourhood, financial status and the depressiveness of the respondents. The level of education is significantly correlated with marital satisfaction, job, whole life, health, social relations and activities, satisfaction with home and neighbourhood, emotional and psychic well-being, financial status and the level of depressiveness of the respondents. The persons who are still married are more satisfied with marriage and their own parenthood, with well-being, have a higher level of satisfaction with their religious and cultural life, while there is a lower level of depressiveness in regard to the persons who are not married. The respondents who have some kind of a chronic disease are less satisfied with life, generally speaking, because of poor health; they have a lower level of independence and satisfaction with their own home and neighbourhood, a lower level of well-being and less satisfaction with their monthly income. However, they showed a lower level of depressiveness in regard to the ones who have no chronic diseases. Socio-demographic characteristics of the respondents, as well as somatic chronic disease and depressiveness are significant indicators of the quality of life of older people. Being aware of the already known quality of life of older people can point out some practical implications important for creating and implementing the programmes intended for older people, while being focused on the improvement of the quality of life and standards.