Introduction Cardiovascular disease (CVD) is the leading cause of death worldwide and is the number one mortality cause in Indonesia. The highest percentage of its prevalence occurs in the elderly population. This research aims to assess the determinants of CVDs in the elderly population in Indonesia based on the Indonesian Family Life Survey 5 (IFLS-5), a sub-nationally representative survey data, in 2014–2015. Methods A national cross-sectional population-based survey was conducted using multicenter data from approximately 13 provinces in Indonesia in 2014–2015. We included elderly subjects aged 60 years old and above with complete data on sociodemographic, smoking habits, obesity, dietary pattern, and physical activity and diagnosis data on hypertension, diabetes mellitus (DM), and hypercholesterolemia. Multivariate logistic regression was performed to estimate odds ratio (OR) and corresponding 95% confidence interval (95% CI) and p-value. Results We included complete data from 2873 respondents. The determinants associated with CVDs in the elderly population in Indonesia included college background (OR 6.26 [95% CI 2.690–14.613], p < 0.001), unemployment (OR 1.88 [95% CI 1.294–2.75], p = 0.001), urban population (OR 2.11 [95% CI 1.427–3.114], p < 0.001), obesity (OR 1.59 [95% CI 0.842–3.02], p = 0.152), low and medium physical activities (OR 2.34 [95% CI 1.335–4.121], p = 0.003 and OR 2.54 [95% CI 1.449–4.486], p = 0.001, respectively), hypertension (OR 4.25 [95% CI 2.945–6.137], p < 0.001), DM (OR 2.77 [95% CI 1.683–4.591], p < 0.001), and hypercholesterolemia (OR 2.99 [95% CI 1.860–4.812], p < 0.001). Conclusion The determinants of CVDs in the elderly population in Indonesia based on Indonesian Family Life Survey (IFLS)-5 data are hypertension, hypercholesterolemia, DM, lower physical activity, higher educational background, urban population, unemployment, and obesity. The findings of this current study highlight that more appropriate control measures such as tailored intervention by policymakers and healthcare providers for those at high risk should be initiated and implemented.