ABSTRACT The major hypothesis tested in this research is that the psychological well-being and life satisfaction of elderly adult individuals can be predicted from religiosity (organizational and non-organizational religious beliefs and behaviors). The sample consisted of 142 adults between the ages of 65-90, with the majority in the 65-70 age group (48%) (SD = 1.176). The entire sample resides in the state of Arizona, in both urban and rural communities. Participants were administered a questionnaire which requested demographic information, and three instruments: the Duke University Religion Index (the DUREL), and the Affect Balance Scale and the Life Satisfaction Index - Z (LSIZ). Correlational and Multiple regression analyses were used to examine the relation between these adults' psychological well-being, life satisfaction and their religiosity. Independent t-tests were also used to examine possible sex, ethnic and religiosity effects on psychological well-being and life satisfaction. Findings revealed that psychological well-being and life satisfaction are higher when religiosity is higher, regardless of sex or ethnicity. These findings are consistent with those of previous research in this field.