Older adults often experience difficulties understanding speech in adverse listening conditions. These difficulties are partially attributed to auditory temporal-processing deficits associated with aging even in the absence of hearing loss. The aim of this study was to assess the effects of age and hearing loss on temporal envelope processing and speech-on-speech masking. Listeners with normal and near-normal hearing across a wide age range (20 to 66 years) were tested using a series of psychophysical (amplitude-modulation detection, gap detection, and interauralenvelope-phase discrimination), physiological (electroencephalographic envelope-following responses), speech perception (spatial release from masking), and cognitive (processing speed) measures. Results showed that: (i) psychophysical measures of monaural and binaural envelope processing and neural measures of envelope processing are not affected by aging after accounting for audiometric hearing loss, (ii) behavioral gap-detection thresholds decline with age, (iii) aging results in a reduction of spatial release from masking, even as speech intensity is amplified in the region of hearing loss, (iv) aging is associated with poorer measures of cognitive function. Although age significantly contributed to a decline in spatial release from speech-onspeech masking, individual differences in envelope processing and in scores from nonauditory cognitive tests used in this study were not significant predictors of speech performance.