Objectives: This study was performed to compare rural residents' perceived health status and life satisfaction according to their general and health related characteristics and to identify factors related to perceived health status and life satisfaction in this population. Methods: Subjects were 1,091 adults aged 20 years or older living in Geochang Gun, South Korea. A survey was conducted from June 28 to August 25, 2009. We used the health self rating scale by Lawton et al. (1982) and the overall life satisfaction scale by Wrosch et al. (2000). The collected data were analyzed using SPSS WIN 18.0. Result: Sex, age, education, spouse, medical diagnosis, currently taking medication, main health maintenance behavior, alcohol consumption, frequency of alcohol consumption, exercise, family harmony, and friend relationships were significantly related to perceived health status. Age, education, spouse, main health maintenance behavior, smoking, exercise, family harmony, and friend relationships were significantly related to life satisfaction. Further, 29.3% of the variance in perceived health status could be explained by medical diagnosis, exercise, family harmony, education, currently taking medication, and friend relationships, while 11.1% of the variance in life satisfaction could be explained by family harmony, perceived health status, main health maintenance behavior, and friend relationships. Conclusion: Health management programs must be designed so as to incorporate the general and health related characteristics of rural residents if they aim to improve the perceived health status and life satisfaction in that population.