Purpose of this study is to analyze factors affecting the healthy aging of the elderly with chronic diseases living in the community according to the worldwide aging phenomenon in line with the WHO’s healthy aging strategy. The subjects were 116 elderly aged 65 years or up with one or more chronic diseases and residing in four cities. The collected data were analyzed by using the descriptive statistics, t-test, ANOVA, Pearson’s correlational coefficients, and stepwise multiple regression. The healthy aging of subjects showed positive correlations with the health status (r =0.68, p < 0.001), gerotranscendence (r = 0.64, p < 0.001), self-efficacy (r = 0.65, p < 0.001), and social support (r = 0.47, p < 0.001), while the healthy aging and depression (r = −0.58, p < 0.001) showed a negative correlation. The factors affecting the healthy aging were health status (β = 0.24, p = 0.004), self-efficacy (β = 0.28, p < 0.001), education (β = −0.11, p = 0.057), exercise (β = 0.17, p = 0.003), gerotranscendence (β = 0.22, p = 0.004), and depression (β = −0.19, p = 0.009), and the explanatory power of those variables was 68.2%. Thus, it would be necessary to provide an intervention for the elderly that could habituate health-related education and exercise, maintain good health status, lower depression, aid control of themselves through the gerotranscendence, and increase self-efficacy.