Research provides evidence that leisure-time physical activity engagement promotes health and well-being among older adults. In this study, using data released from the Health and Retirement Study (HRS) in 2008, we focused on the exploration of the relationship between leisure-time physical activity and psychological benefits such as positive affect, optimism, psychological well-being, and life satisfaction among elderly immigrants. The results of this study demonstrated that leisure-time physical activities play an important role in gaining psychological benefits. This finding provided further evidence that leisure-time physical activities provides rich opportunities for elderly immigrants to experience psychological benefits, which may contribute to quality of life and successful aging.