Within the active ageing framework, this study was carried out during the COVID-19 pandemic on older volunteers, in order to explore the possible relation between, on the one hand, changes in their health, social relationships and quality of life due to the pandemic and, on the other hand, volunteers’ motivations and (direct or indirect) experience of the COVID-19 contagion. Although various active-ageing-related issues have been studied during the pandemic, the studies did not cover the topic of the present study. Therefore, the results of this study advance the knowledge on the matter. A sample of 240 older volunteers was surveyed in Italy in July–August 2021. Bivariate analyses and multivariable logistic regression models were performed. The results highlighted that during the COVID-19 pandemic, for older people, volunteering in order to avoid thinking about personal problems was related to worsened health, while volunteering for social reasons was inversely related to a worsening quality of life. Having indirectly (by acquaintances) experienced the COVID-19 contagion was protective against the worsening physical health of older volunteers. The discussion includes the policy implications of the results.