This study was done to investigate levels of physical fitness, self efficacy(SE), instrumental activities of daily living (IADL), and quality of life(QL), and their relationships among the elderly. Data were collected from 47 noninstitutionalized elderly dwelling in their own homes and 43 institutionalized elderly living in homes for older people. The ages of the subjects were 65 years and over. The data were collected from January 20th to February 20th, 1995. Physical fitness was measured with T.K.K dynamometer, grip dynamometer, stop watch, and Purdue pegboard. Structured questionnaires developed by Kim, by Lawton and Brody, and by Ro were adopted to measure SE, IADL, and QL, respectively. The data were analyzed using t-test, ANOVA, and Pearson correlation coefficients. The results were as follows: 1. The noninstitutionalized elderly had higher scores in such measures of physical fitness as body weight, skinfold thickness, flexibility and coordination as compared to the institutionalized elderly. 2. On the following measures of physical fitness, men showed higher levels than women; in height when standing, height when sitting, body weight, and muscle strength. Women had more trunk flexibility than men. 3. Muscle strength was positively correlated with height when standing, height when sitting, and body weight. The following measures of physical fitness, muscle strength, flexibility and coordination, were negatively correlated with "up and go". 4. The noninstitutionalized elderly had higher scores in SE(t=2.28, p<0.05), IADL(t=2.24, p<0.05), and QL (t=2.41, p<0.05) as compared to the institutionalized elderly. 5. SE was positively correlated with both IADL (r=0.41, p<0.001) and QL(r=0.54, p<0.001), and the latter two variables were a positively correlated(r=0.30, p<0.001). 6. SE was positively correlated with the physical fitness measures of height when standing, body weight, strength of leg muscles, strength of back muscles, grip strength, and level of touching the floor, but negatively correlated with "up and go." 7. Positive correlations were revealed between IADL and the physical fitness measures of height, strength of leg muscles, level of trunk muscle extension, level of touching the floor, and coordination. The IADL was negatively correlated with "up and go". 8. QL was positively correlated with body weight (r=0.28, p<0.01) and skinfold thickness(r=0. 26, p<0.05). 9. Age was negatively correlated with the physical fitness measures of height when standing, height when silting, "up and go", strength of leg muscles, strength of back muscles, grip strength, level of trunk muscle extension, and coordination. 10. Age was also negatively correlated with SE (r=-0.24, p<0.05) and IADL(r=-0.22, p<0. 05). The above results suggest that caring elderly in their own homes were more effective and that nursing interventions to enhance physical fitness, SE, IADL, and QL especially for the institutionalized elderly are stressed.