Purpose: This study explored major variables predicting achievement of ego-integrity and falling into depression for Korean elders and attributes of the major predicting variables. Methods: Data were collected through questionnaires and interviews on twelve variables that were known as influential variables in the studies on ego-integrity and depression. The participants were 417 elders living in community settings in Korea. To identify the major predictors, the twelve variables were analyzed by logistic regression between two groups; upper 25% group and lower 25% group according to each of the ego-integrity and depression scale and content analysis was done to identify the attributes of the major predictors on ego-integrity and depression. Results: Major variables predicting ego-integrity were self-esteem (p =.000), spirituality (p = .073), activity as a relative (p =.010) and life satisfaction (p = .000). On the other hand, major predicting variables of depression were activity as a relative (p =.017) and life satisfaction (p = .000). Core attributes of the major variables predicting ego-integrity and depression were self-appraisal of satisfaction with relations with offspring and family, and harmony from generation to generation. Conclusion: Results of this study indicate that a need to identify major areas for nursing interventions, such as life review therapy, in achieving ego-integrity in Korean society.