Metamemory is defined as cognitions about memory and related processes. Related terms in the literature include metacognition, self-evaluation, memory self-efficacy, executive function, self-regulation, cognitive control, and strategic behavior. Metamemory is a multidimensional construct that includes knowledge about how memory works, beliefs about memory (including beliefs about one’s own memory such as memory self-efficacy), monitoring of memory and related processes and products, and metacognitive control, in which adaptive changes in processing approaches and strategies may be contemplated if monitoring of memory processes (encoding, retention, retrieval) indicates that alternative strategies may be required. Older adults generally believe that their memory has declined and that, on average, they have less control over memory and lower memory self-efficacy than young and middle-aged adults. Many but not all aspects of online memory monitoring are well preserved in old age, such as the ability to discriminate between information that has been learned versus not learned. A major exception concerns confidence judgments concerning whether recognition memory decisions are correct; older adults are more prone to high-confidence memory errors, believing they are recognizing something they have not encountered previously. The evidence regarding metacognitive control is more mixed, with some hints that older adults do not use monitoring to adjust control behaviors (e.g., devoting more time and effort to studying items they believe have not yet been well-learned). However, any age deficits in self-regulation based on memory monitoring or adaptive strategy use can probably be addressed through instructions, practice, or training. In general, older adults seem capable of exerting metacognitive control in memory studies, although they may not necessarily do so without explicit support or prompting.