The purposes of this study were to compare the differences of physical self-esteem and well-being between the elder people with different gender, age, and the frequency of exercise. There were 272 participants who were living in Taipei and 65 year age or more (106 male and 163 female). The research tools were Physical Self-Esteem Inventory and Well-Being Inventory. The collected data were analyzed by t-test (independent), one-way ANOVA and Pearson correlation. The findings were as the following: 1. there were differences between genders in physical self-esteem, well-being, life satisfaction, self-affirmation, and self-confidence; and there were differences between ages in physical self-esteem and self-confidence; 2. there were differences between the frequency of exercise in physical self-esteem, well-being, life satisfaction, self-affirmation, and self-confidence; 3. there were positive relationship between the frequency of exercise, physical self-esteem, and well-being.