Purpose <p>This study is conducted in order to examine the impact of social exclusion on life satisfaction and psychological well-being among the elderly people.</p> Methods <p>Being descriptive cross-sectional, this study was conducted with 517 elderly adults in Turkey. Data were collected using a socio-demographic information form, the Social Exclusion Scale for the Elderly (SESE), the Life Satisfaction Scale for the Elderly (LSSE), and the Psychological Well-Being Scale for the Elderly (PWBSE).</p> Results <p>The mean age of the participants was 69.91 ± 5.63 years (Min-Max.=65–96). They scored an average of 60.87 ± 16.15 points from the SESE, a total of 46.64 ± 11.01 points from the LSSE and a total of 48.53 ± 11.06 points from the PWBSE. Social exclusion, life satisfaction, and psychological well-being levels were found to be above average. Higher education and income levels were associated with lower social exclusion and higher life satisfaction and psychological well-being (<i>p</i> &lt; .05). A significant negative relationship was found between SESE and both LSSE and PWBSE scores (<i>r</i>=–.087 to –0.292, <i>p</i> &lt; .05). Regression analyses showed that social exclusion explained 1.1% of life satisfaction and 2.3% of psychological well-being. When qualitative and quantitative variables were added to both models, the percentage of explanation increased to 47.7% and 51.5%, respectively.</p> Conclusion <p>Social exclusion is thought to affect life satisfaction and psychological well-being in older individuals, but it is estimated to have a greater impact on psychological well-being. Interventions aimed at improving social inclusion—particularly those addressing education, income, and living environment—may enhance the well-being of elderly. Community health nurses can play a key role in implementing supportive and inclusive strategies.</p>