Objectives To examine the relationship between depression and various components of body composition, including fat and muscle, in elderly Koreans. Design A cross-sectional sample of a longitudinal cohort from the Ansan Geriatric ( AGE) Study. Setting Elderly people living in urban area (Ansan City, South Korea). Participants Eight hundred thirty-six participants (378 male, 458 female) aged 60 and older were recruited from April 2006 to January 2008. Measurements Depressive symptoms were examined using the Korean version of the 30-item Geriatric Depression Scale ( KGDS). Participants taking antidepressant medications or with a KGDS score of 14 or greater were classified as having depression. Abdominal visceral fat area ( VFA) and subcutaneous fat area were assessed using single-slice computed tomography, and appendicular skeletal muscle mass ( ASM) and percentage body fat (% BF) were determined using whole-body dual-energy X-ray absorptiometry. Results Elderly men with depression had a lower ASM than those without depression ( P = .01) after adjusting for age, body weight, and height. In men, the risk of depression was lower with higher body mass index ( BMI) (odds ratio ( OR) per 1-standard deviation ( SD) increase = 0.70, 95% confidence interval ( CI) = 0.51-0.96) after adjusting for all confounding variables and higher ASM ( OR per 1- SD increase = 0.49; 95% CI = 0.29-0.85) after controlling for age, height, and weight. Similarly, depression was negatively associated with BMI in women ( OR per 1- SD increase = 0.73; 95% CI = 0.56-0.95). Waist circumference, % BF, and VFA were not consistently associated with depression in men or women. Conclusion Depression in elderly Koreans is associated with low body mass and sarcopenia, especially in men.