Objective to evaluate the risk of malnutrition in patients included in a home care program in a health center and its association with sociodemographic, clinical, and functional variables. Material and methods we performed a cross-sectional descriptive study. Stratified systematic sampling was performed and data on sociodemographic characteristics, chronic diseases, functional and cognitive status, and symptoms of depression and/or anxiety were gathered. Nutritional assessment included anthropometric evaluation, complete blood analysis (iron, ferritin, folic acid, vitamin B 12, total proteins and albumin) and risk of malnutrition (mini-nutritional assessment [MNA] questionnaire). Results of an initial sample of 96 patients (95% confidence interval [CI], precision = 0.08), data collection was complete in 91 (94.8%); 75.8% were women, and the mean age ± standard deviation was 80.4 ± 7.4 years. More than two chronic diseases were found in 70.5% and the mean number of drugs was 5.4 ± 2.8. Depressive symptoms were present in 47.3%, with moderate-severe cognitive impairment in 45.9% and symptoms of anxiety in 38.6%. A total of 89.9% required help for instrumental activities and 82.2% for basic activities. Risk of malnutrition was found in 35.2% (95% CI = 25.4-45.0) and malnutrition was found in 23.1% (95% CI = 14.5-31.7). Levels were below normal for serum folic acid (41.4%), total serum proteins (40.3%), haemoglobin (38.8%) and albumin (33.8%). Malnutrition or malnutrition risk was associated with low weight, smaller brachial and calf circumference, greater age, and lower Lawton and Barthel scores (p < 0.05). The only statistically significant association in the multivariate analysis was between lower Barthel scores and greater age. Conclusions systematic nutritional assessment should be performed periodically in elderly patients in home care programs. Prevention and intervention measures should be established, especially in patients with worse functional capacity and greater age.