The advent of the Fourth Industrial Revolution and the spread of infectious diseases have increased people’s reliance on information and communication technology (ICT). However, older adults are the most marginalized group affected by ICT, and their activities and daily life have become more difficult than ever during the pandemic. Based on the theory of the TAM, this study analyzed the effect of ICT use on life satisfaction among older adults during the pandemic, and examined the mediating role of social capital. The partial least squares structural equation modeling (PLS-SEM) was applied to test the relationships among ICT use, social capital, and life satisfaction, and the Sobel test was used to test the mediating effect and statistical significance of social capital. The results of the analysis confirmed the positive effects of technology’s perceived usefulness and self-efficacy on attitudes and ICT use among older adults. ICT use had a positive effect on life satisfaction. In addition, it was found that social capital had a mediating effect on the relationship between ICT use and life satisfaction. During the pandemic, ICT use not only had a direct effect on life satisfaction but also had an indirect effect through social capital among older adults. The results of this study have implications for research on ICT use and life satisfaction among older adults, and have implications for formulating public policies for active aging. The results of this study can facilitate a comprehensive understanding of the antecedents and consequential factors of the use of digital information among older adults, which not only complements previous studies but also provides a theoretical basis for systematic research on digital literacy and well-being in older adults.