Background. There is a lack of information regarding health literacy (HL) in elderly people in Vietnam. Objective. The aim of this study was to evaluate the health literacy and the associated factors in elderly people in Vietnam. Methods. A cross-sectional study was conducted on a sample of 300 elderly people aged 55 years and above. Data were obtained from study participants using face-to-face interviews using designed questionnaires on sociodemographics, behaviors, and health literacy. Multiple linear regression models were performed to identify potential determinants of health literacy. Results. HL scores were 29.70±8.20 for the general HL dimension, 32.00±9.60 for the healthcare dimension, 21.97±10.06 for the disease prevention dimension, and 35.15±9.43 for the health promotion dimension. In the final model, age was negatively associated with HL (B−coefficient=−0.09, 95% confidence interval (95% CI) (-0.17 to -0.008), P=0.030). Occupation (B=4.77, 95% CI (3.18 to 6.36), P<0.001), taking care of children (B=1.68, 95% CI (0.21 to 3.15), P=0.025), social activity (B=4.61, 95% CI (2.86 to 6.37), P<0.001), doing exercises (B=2.52, 95% CI (1.07 to 3.96), P=0.001), television watching (B=2.10, 95% CI (0.75 to 3.45), P=0.002), using the Internet (B=2.93, 95% CI (1.29 to 4.57), P=0.001), and social connection (B=3.50, 95% CI (1.23 to 5.78), P=0.003) were positively associated with HL, respectively. Conclusion. Age, occupation, and a number of behaviors were significantly associated with HL in elder people. Health education campaigns should take into account the above factors as facilitating access to the Internet and providing opportunities for social networks for the elderly.