There is evidence to suggest that leisure engagement may influence self-perceptions of aging, but disentangling potential bidirectionality in this relationship is challenging. A better understanding of the directionality of this association is essential for designing more effective interventions to promote healthy aging. We, therefore, tested concurrent effects and lagged effects in both directions for a univariate measure of leisure engagement as well as specific domains of community, cognitive, creative, and physical activities. A total of 17,753 adults aged 50 or above living in the United States from the Health and Retirement Study were included in the analysis. They provided 32,703 observations over 3 waves between 2008/2010 and 2016/2018. Data were analyzed using structural equation modeling with both concurrent and lagged associations between self-perceptions of aging and leisure engagement, controlling for confounders including age, gender, ethnicity, socioeconomic position, and health conditions. We found consistent evidence for leisure engagement as a predictor of self-perceptions of aging. There was also evidence for a reciprocal relationship where leisure engagement was predicted by older adults' self-perceptions of aging. Similar results were observed for specific domains of leisure engagement. Our findings provide empirical support for the potential benefits of leisure engagement on positive self-perceptions of aging, regardless of the type of activities. Our study also highlights the importance to consider the directionality in researching leisure engagement and self-perceptions of aging.