The aim of this study was to analyze the factors associated with positive self-perceived health of octogenarians participating in community groups in the city of Florianópolis, Southern Brazil. A cross-sectional study was conducted with 343 older adult individuals aged 80 years or older, of both sexes, participating in community groups. A questionnaire was applied through a face-to-face interview, including socio-demographic and economic data, self-reported health status, falls, lifestyle and leisure domain from the International Physical Activity Questionnaire. Poisson regression was used to identify the factors associated with positive self-perceived health, adjusted for socio-demographic, economic, behavioral, health condition and fall variables. The prevalence of positive self-perceived health among octogenarians was 49.0% (95%CI=44.0-54.0). The factors associated with positive self-perceived health were as follows: to receive a monthly income higher than six minimum wages (PR=1.39; 95%CI=0.91-2.11), to smoke currently (PR=1.75; 95%CI=1.25-2.46), to be physically active during leisure time (PR=1.33; 95%CI=1.06-1.67), to have arthritis or rheumatism (PR=0.55; 95%CI=0.37-0.80), diabetes (PR=0.54; 95%CI=0.37-0.79) and cardiovascular disease (OR=0.71; 95%CI=0.53-0.95), apart from using medications (PR=0.74; 95%CI=0.60-0.91). Thus, it could be concluded that some modifiable factors were identified, such as income, smoking, leisure physical activity, and use of medications, which can interfere with the positive self-perceived health of octogenarians participating in community groups.