We examine the evolving impact of leisure activities (LA) on three key measures of the elderly's life quality: cognitive functioning (CF), psychological well‐being (PWB), and life enjoyment (LE). Using four waves of the English Longitudinal Studies of Ageing between 2008 and 2014 with 7097 respondents, we investigate how the elderly's LA influence their CF, PWB, and LE. Building on the theoretical perspective of being active in promoting psycho‐mental health, we confirm the positive impact of engaging in LA, such as going to the cinema/theatre and eating out, on the elderly's life quality. We further reveal the evolving impact of LA on the elderly's life quality. In a steady manner, LA directly promote the elderly's LE. In a declining pattern, CF and PWB mediate the relationships between LA and LE. As such, the impact of LA in sustaining perceived LE occurs dominantly as a direct effect during the activity. The elderly's LE throughout their old age can originate from engaging in LA, which mainly work directly rather than indirectly through CF and PWB.