Age-related changes of gait performance have been evidenced by the altered kinetic coordination of the lower extremity. However, a systematic approach to explore the gait control in terms of the mechanical energy transfer across multiple segments throughout the gait phases is still not well documented. Ten healthy elderly and ten young adults were asked to walk along a 10-meter walkway at the self-selected and fast walking speeds. The visualized energy flow model of the swing leg was established and the factor analysis was then applied to extract the high-dimensional energy flow characteristics of the swing leg. The results showed that the young adults have similar energy flow characteristics of the swing leg for both fast and self-selected walking speeds, while the elderly showed an opposite energy flow pattern especially at the fast walking speed. The hip power and the knee power were also found to mainly correspond to the swing acceleration and deceleration, respectively. This study demonstrated a valuable tool to explore the change of the gait characteristics in the elderly and could help to facilitate the understanding of the neuromuscular adaptation due to aging.