The current study aimed to identify life satisfaction depending on the degree of social frailty and explore the mediating role of functional limitations and depressive symptoms between social frailty and life satisfaction. A secondary analysis of a cross-sectional survey was used. Data of 6,479 older adults were selected from the 2020 National Survey of Older Koreans. Of all participants, 2,595 (40.1%) and 1,605 (24.8%) had social prefrailty and frailty, respectively. Life satisfaction of participants with social frailty was significantly worse than those without social frailty. Social frailty negatively influenced life satisfaction. Functional limitations and depressive symptoms serially mediated the association between social frailty and life satisfaction. This mediation model provided evidence of the associations among social frailty, functional limitations, depressive symptoms, and life satisfaction in older adults. In community care settings, nurses should recognize the assessment of social frailty to enhance the subjective well-being of older adults. [Research in Gerontological Nursing, 16(6), 291-300.].