Two studies assessed the role of self-compassion as a moderator of the relationship between physical health and subjective well-being in the elderly. In Study 1, 132 participants, ranging in age from 67 to 90 years, completed a questionnaire that assessed their perceptions of their physical health, self-compassion, and subjective well-being. Participants who were in good physical health had high subjective wellbeing regardless of their level of self-compassion. However, for participants with poorer physical health, self-compassion was associated with greater subjective wellbeing. In Study 2, 71 participants between the ages of 63 and 97 completed a questionnaire assessing self-compassion, well-being, and their willingness to use assistance for walking, hearing, and memory. Self-compassionate participants reported being less bothered by the use of assistance than those low in self-compassion, although the relationship between self-compassion and willingness to use assistive devices was mixed. These findings suggest that self-compassion is associated with well-being in later life and that interventions to promote self-compassion may improve quality of life among older adults.