PURPOSE: This study aimed to identify the associated factors of the perceived health status of the elderly in Korea and to provide basic data for developing nursing interventions for the elderly's health management. METHODS: This study used a descriptive correlational research design. The subjects of this study were 335 elderly people over 60 yr living in an urban city. Data were collected through personal interviews using questionnaires from September 2006 to March 2007. Empirical indicators of perceived health status were measured by SF-36, nutritional screening initiative (NSI), activities of daily living (ADL) Index, and instrumental activities of daily living (IADL) scale. The collected data were analyzed by descriptive statistics, Pearson's correlation, and hierarchical regression. RESULTS: The mean age of the subjects was 72.8 and 57.0% of subjects were female. 41.5% of variance in physical health was explained by nutrition, ADL, IADL, and the number of years attending school. Among them the most important factor was ADL. 13.2% of variance in mental health was explained by the number of family, nutrition, and IADL. Among them the most important factor was nutrition. CONCLUSION: It is necessary to develop supportive interventions for improving the perceived health status of elderly people by considering the most important factors shown in this study.