<p>Depression is a significant health challenge for older adults, posing a burden on families and society, especially in China where the aging population is growing. Previous studies have primarily examined the influence of financial status on depression, but there is a lack of research on the relationship between different types of assets or debts and depression in older adults. Furthermore, the moderating role of chronic diseases between financial status and depression has not been thoroughly explored. This study involved older adults aged 60 and above who participated in two waves of the China Health And Retirement Longitudinal Study(CHARLS) in 2015 and 2018. Due to the unique distribution of the dependent variables, Tobit regression model were used. Moderated analysis methods were also employed to explore the association between financial status, chronic diseases, and depression. The results revealed that financial status has different effects on depression in older adults. Concerning debt status, borrowing money from social networks was associated with a higher risk of depression, while bank loans and credit card loans did not significantly affect depression. For asset status, cash and deposits were identified as protective factors against depression, with cash having a greater impact than deposits, while money investment did not show significance. Furthermore, the moderating effect of chronic diseases is significant in the relationship between financial status and depressive symptoms among older adults. Prioritizing practice implementation can reduce debt burdens and negative emotions, thereby enhancing the psychological well-being of older adults.</p>