This study investigates characteristics of life satisfaction of the aged with different family status, analyzes relationship of life satisfaction and value-motivational sphere, reveals the influence of components of value-motivational sphere on various aspects of life satisfaction. The article proves that the aged living in families are characterized by a level of life satisfaction higher than those living alone: they are characterized by more pronounced interest for life, integrity and integrative “self-image”, satisfaction with life achievements, optimistic assessment of the future, availability of new life goals, self-confidence. Similarity in the hierarchy of values and motives of the aged with different family status is revealed. Principal values are those that are directly related to the life of the person itself and its microenvironment. The aged are motivated for communication and activities that benefit other people, they attempt to be involved in the live of other people and to find certain place in it. The aged in families have a higher level of index intensity for a number of valuemotivational tendencies: communication, health, welfare, pleasure, social usefulness, mass action. Life satisfaction among the aged living in families is associated with the values and motives ensuring their involvement into social interactions of their microenvironment, while among the people living alone – with the values and motives providing solutions of everyday problems. It is revealed that life satisfaction among the aged in both groups increases while importance of material benefits decreases in general hierarchy of values. The aged living alone experience great satisfaction by realizing communication motives, social usefulness, significance of recognition and respect of people around them. The aged living in families experience great satisfaction from importance of the motives that might be realized in their families. Thus, the family appears both a principal need and the condition ensuring a higher satisfaction with life in the old age.