Elderly individuals are susceptible to cognitive impairment as a result of age-related physical and biological changes, which often manifest as memory issues and declines in mental acuity. Such cognitive impairment can lead to a reduced quality of life (QOL) due to increased dependency. This study aims to investigate the impact of cognitive function on QOL among elderly individuals living in institutionalized settings and identify the primary predictor for both variables within this population. This cross-sectional study involved 145 elderly residents at a private nursing home in Surabaya, Indonesia. Data collection was performed using the Mini Mental State Exam (MMSE) and the Older People Quality of Life (OPQOL) questionnaires. Data analysis was conducted using linear and ordinal regression tests (α<0.05). The majority of the elderly participants exhibited normal cognitive function (mean MMSE score: 23.65±5.07) and satisfactory QOL (mean OPQOL score: 114.66±10.20). Among the various factors considered, time orientation was identified as the most significant predictor of cognitive function, explaining 63.9% of the variance (p=0.000). Conversely, looking forward to future experiences was found to be the most influential predictor of QOL, accounting for 47% of the variance (p=0.000). These findings highlight the importance of precise time orientation in maintaining normal cognitive function and the significance of having a positive outlook on the future to enhance overall QOL. While cognitive function was observed to significantly influence QOL in institutionalized elderly individuals (p=0.004), its contribution was relatively modest, explaining only 5.7% of the variance in QOL within this population (R2=0.057).