Cognitive and physical factors affect participation in later life. It is imperative to explore the contribution of emotional factors on older adults' participation and wellbeing. Seventy-eight older adults were recruited for this cross-sectional study and grouped based on their level of independence. Emotional functioning, hope, cognition, participation, and wellbeing were measured. Analyses of variance, correlational analysis, and prediction models were employed. Significant differences were found between independent and dependent older adults' participation and wellbeing, (2, 72) = 12.71, < .00, η = .26. Independent older adults' participation was predicted by cognition, β = 0.40, and hope, β = 0.58. Wellbeing was predicted by cognition, β = 0.39, emotional status, β = -0.46, and hope, β = 0.36. Dependent older adults' wellbeing was predicted by emotional status, β = -0.68, and hope, β = 0.32. Occupational therapists play a key role in promoting healthy aging by incorporating psychosocial factors at the individual, community, and societal levels.