The purpose of this study is to discover the effects of leisure satisfaction level on life gratification of elderly people of Australia and Korea by dividing it to three periods: past, present and future. The investigation was completed through surveys, and 491 Australian elderly and 509 Korean elderly were surveyed. The information used in the survey was largely imported from the existing questionnaires and the survey is categorized into two sections: leisure contentment level and life satisfaction level. This research utilized content validity, and for the solution analysis, frequency analysis was used for social-statistic variables. Multiple regressions were practiced in order to find the relationship between leisure satisfaction level and life gratification. The results of the investigation were the followings: First, among the factors that leisure satisfaction level had impact on life gratification, relaxation satisfaction was the biggest influence on the elderly of Australia in the past, and physiological gratification and psychological contentment were the second and the third largest influence. With the case of Korean elderly, physiological gratification was the only effect on the past life satisfaction level; Second, it was found that educational and relation contentment had impact on present life gratification for Australian elderly people. On the other hand, physiological gratification had the most influence on present life of Korean elderly, and social satisfaction had the second most impact. With the result, it was discovered that Korean elderly people have more awareness of health than Australian elderly; Third, educational satisfaction had the most effect on future life contentment of Australian elderly. In contrast, with the order of physiological, relaxation and psychological satisfaction level had the most influence on future life contentment of the Korean elderly.