This study explores the moderating effects of income on the relationship between geriatric depression and health satisfaction among elderly individuals in Korea. The data were obtained from public data files in the 2011 Elderly Living Condition Survey database. The sample included 9,461 cases. The results show that the factors influencing health satisfaction were geriatric depression (β=-.510, p<.001), gender (β=.123, p<.001), activities of daily living (β=-.116, p<.001), income (β=.050, p<.001), living alone (β=.044, p<.001), and the area of residence (β=.017, p<.05). Income moderated the effect of geriatric depression on health satisfaction. Noteworthy is that an increase in income slightly weakened the negative relationship between geriatric depression and health satisfaction.