The characteristics of positive autobiographical memory narratives were examined in younger and older adults. Narratives were content-coded for the extent to which they contained indicators of affect, sensory imagery, and cognition. Affect was additionally assessed through self-report. Young adults expressed more positive affect and less sensory imagery in their memory narratives than did older adults. Age differences in cognitive characteristics also appeared: younger adults showed greater causation-insight, and greater tentativeness in retelling their autobiographical memories. Controlling for episodic memory ability eliminated age differences in positive affect but did not affect age differences on other memory characteristics. Results are discussed in terms of the role that positive autobiographical memories play in daily emotional life across adulthood.