Introduction: Quality of life is a multifaceted construct that depends on the person’s subjective perception; however, some studies have shown self-efficacy and cognition with possible indicators of this positive perception of quality of life in people. Objective: Examined prediction of Quality of Life (QL) and its domains according to self-efficacy, physical activity (PA) and cognition among elderly people attending public Open Universities for the elderly in the State of Paraná, Brazil. Method: Cross-sectional descriptive correlational study with a sample of 277 elderly. Questionnaires used: Sociodemographic, WHOQOL-BREF and WHOQOL-OLD, IPAQ, General Perceived Self-Efficacy Scale and Addenbrooke’s Cognitive Examination. Statistical: Descriptive and inferential analysis (correlation and multiple linear regression), significance p < .05. Results: The mean age was 67.60 (SD=6.65). Self-efficacy was related to QOL and to all domains. PA correlated with general QOL and the Psychological and Social domains. Cognition was correlated with general QOL and five other domains (Physical, Psychological, Social, Environmental, Sensory functioning, Past/Present/ Future Activities). Self-efficacy, PA and Cognition can explain 10% of the general QOL, and 14% of the Environmental domain. The specific QOL and its domains had 10% of explanation. Conclusion: QOL can be explained by the constructs self-efficacy, cognition and PA.