Life satisfaction among elderly in geriatric homes is becoming an important issue in a rapidly aging population, Life satisfaction is consider an indicator of well-being among the elderly, and is directly connected with health and mortality. This study aimed to investigate the impact of psychological wellbeing and physical activity on life satisfaction among elderly in geriatric homes. A descriptive study using randomly stratified sampling procedure was conducted among140 elderly based on criteria in fourth Geriatric Homes at Cairo. The data was collected using Socio demographic data of elderly individual, The psychological wellbeing scale, and Katz Index to assess activity of daily life (ADL) of the elderly, and 13-item LSIZ to measure satisfaction with life. The results indicated that elderly population at geriatric homes was independent in most of their daily activities but need assistance in grooming, and transferring. Also results indicated that mostly of them had low psychological well being, with low positive affect, and had high negative affects. Furthermore, there was positive highly statistically significant relation of the physical activity ,psychological well-being, and with life satisfaction. These results concluded that the psychological well being and physical activity affected on life satisfaction of elderly at nursing homes. The study had implications for further studies to explore other reasons for low satisfaction of life, and interventions program focus on promote life satisfaction and increase successfully aging.