This study aimed to investigate the prevalence of depression in schizophrenia and associated factors, including quality of life. A cross-section- al study was conducted with 150 outpatients. The Calgary Depression Scale for Schizophrenia measured depression, and the Quality of Life Scale-Brazil measured quality of life. Major depression was found in 56% of patients with schizophrenia. Patients with major depression had low quality of life according to both the global scale and the occupational subscale. Global quality of life was important for separating the decision-tree statistical analyses. In patients with low quality of life, three factors were associated with depression: presence of schizophrenic symptoms, number of medications, and lack of household activities. In patients with better quality of life scores, only duration of the illness was significant. The study shows a high prevalence of depression in schizophrenia, besides highlighting its repercussions on quality of life. When evaluating quality of life, the presence of depression should be taken into consideration.