Although time use is one of people’s most important resources, there are social forces and inequalities that shape how time is used. The aim of this research is to examine gender differences in time use from adolescence to old age and to analyze the association of such use with sociodemographic characteristics and with women’s and men’s health and well-being. A cross-sectional study was conducted with a sample of 5700 women (54.2%) and men (45.8%) from the Spanish general population, aged 14 to 85 years. Participants were assessed using five self-reported measures of time use, health, mental symptoms, psychological well-being, life satisfaction, social support, and masculine/instrumental and feminine/expressive traits. The results showed that although there were important differences in life cycle stage and occupation, women spent more time than men on housework, childcare, and caring for sick relatives, while men spent more time than women on enjoying activities and exercise. More time spent on housework was associated with worse health and well-being for women and more exercise with better health and well-being for both genders. It is concluded that gender is relevant to time use and the impact of different uses of time on health and well-being.