In order to investigate the association betweensatisfaction with the neighborhood environment and self-rated health among older elderly, datafrom 814 participants of the eleventh wave of the Bambuí Cohort Study of Aging were analyzedusing robust Poisson regression analyses. Thoseelderly with higher satisfaction with their neighborhoods (PR = 0.75; 95%CI: 0.63-0.87) were lesslikely to report worse self-rated health. The number of chronic diseases (two, PR = 1.69; 95%CI:1.05-2.70, three or more, PR = 1.99, 95%CI: 1.273.13), difficulty in performing daily activities(PR = 1.51; 95%CI: 1.28-1.78), presence of depressive symptoms (PR = 1.68; 95%CI: 1.44-1.95) and frequency of leisure-time exercise in previous 90days (less than once a week, PR =1.24; 95%CI: 1.03-1.50) were all positively and significantly associated with poor self-rated health. This study provided empirical evidence that satisfactionwith the neighborhood environment was associated with the health of the older elderly. The findings further suggest the potential importance ofincluding this indicator in analyses of place andhealth among the elderly.