Objective: To analyze the prevalence of and factors associated with functional independence among community based elderly women. Methods: A cross-sectional study was conducted in the urban area of the city of Cuiabá, in the state of Mato Grosso, involving 247 women aged 60 and over. Data was collected through interviews, using instruments such as the Mini Mental State Examination, a questionnaire about demographic and health data, the Katz Index and the Lawton and Brody Scale. Prevalence ratio and the chi-squared test ( p=0.05) were used as measures of association, whereas for multivariate analysis, the Poisson regression model was used. Calculations were performed with the Statistical Package for Social Sciences 22.0 program. Results: The prevalence of functional independence was 63.2%. The variables associated with independence were a younger age, an income greater than the minimum wage; the use of up to two drugs, did not need hospitalization in the last 6 months, had not experienced immobilization that prevented locomotion after age 60, visiting friends and relatives, social participation and physical activity. Conclusion: All the variables were strongly associated with healthy aging. Even in the presence of pathologies considered common to the aging process, the practice of physical activity and social interaction are important markers of functional independence.