The purpose of this study was to discover the factors affecting on physical activity levels of community-dwelling older adults in Korea. The data was analyzed on 12,322 older adults, aged 65 or above, from the 2008 National Elderly Survey. The results of this study were as follows: First, 29.9% of older men and 46.4% of older women were classified as physically inactivity. Second, age(OR=1.44, p<.001), education(OR=1.17, p=.026), location of residence(OR=1.19, p=.016), perceived health status(OR=2.18, p<.001), chronic disease(OR=1.23, p=.020), pain(OR=1.24, p=.011), ADL(OR=1.86, p<.001), fear of fall(OR=1.26, p=.003), depression(OR=1.78, p<.001) predicted physical activity levels in older men. Age(OR=1.54, p<.001), perceived health status(OR=1.63, p<.001), pain(OR=1.45, p<.001), falling experience(OR=1.24, p=.001), ADL(OR=1.72, p<.001), depression(OR=1.46, p<.001) predicted physical activity levels in older women. It is suggested that the findings of this study are helpful to develop effective physical activity interventions for older adults.