PURPOSE: This study aimed to identify depression and its predictors among Korean community-dwelling elderly with mild cognitive impairment. METHODS: Secondary data analyses of the data collected by the "Study on tailored integration program for reinforcing cognitive and physical function of the frail elderly. The study used data from one-to-one interviews using structured questionnaires. The subjects were 346 community-dwelling elderly who visited a healthcare center in Seoul, Korea. A descriptive correlational study design was utilized to explore depression and its predictors including physical factors and psychosocial factors among the elderly with mild cognitive impairment. Data were analyzed using t-test, Pearson's correlation, and hierarchical regression. RESULTS: Mean score of depression was within normal limit 11.61+/-6.69. Somatic symptoms, negative life events (severity), social support were shown as significant predictors of depression. The most influential predictor for depression was somatic symptoms (beta=.340, p<.001). CONCLUSION: To prevent and relieve depression in the elderly with mild cognitive impairment, nursing intervention strategies which consider well-balanced physical and psychosocial aspects are needed. In particular, a specific nursing intervention strategy is required to improve physical health of the elderly with mild cognitive impairment.