The purpose of this study is to investigate productive activities effect on psychological well-being in the elderly. As people grow older, the level of physical function and psychological well-being is decreased. But We verified maintaining productive activities could make buffering effect on psychological well-being. And We investigate what kind of productive activities could effect on psychological well-being by gender. As a result, there were differences in self efficacy belief, life satisfaction and depression by age, education, absence of spouse, subjective economic status and physical function. Group activity and domestic labor had on affirmative effect on self efficacy belief in male and female elder. Learning activity had on positive effect on life satisfaction in female. Depression was negative influenced by voluntary activity and domestic labor in female and pay work, group activity and domestic labor in male.