The aim of this investigation was to determine how cognitive performance was associated with positive and negative affect and life satisfaction over time. This study involved a secondary longitudinal analysis of cross-section data collected at Phase I (1988–1992) and during an 18-month longitudinal followup at Phase II (1992–1998) of the Georgia Centenarian Study. Participants included 𝑁 = 1 3 7 centenarians at Time 1 and 𝑁 = 6 8survivors at Time 2. Significant stability in cognitive impairment existed at Time 1 and Time 2 for positive (𝛽 = . 5 5 , 𝑃 < . 0 1) and negative affect (𝛽 = . 5 4 , 𝑃 < . 0 1) models. Negative affect at Time 1 was associated with lower life satisfaction at Time 1 (𝛽 = − . 4 2 , 𝑃 < . 0 1 ). In addition, cognitive impairment at Time 2 was associated with decreased positive emotionality at Time 2 (𝛽 = − . 3 9, 𝑃 > . 0 1). Furthermore, greater positive affect at Time 2 was associated with greater satisfaction with life at Time 2 (𝛽 = . 3 5 , 𝑃 < . 0 1). It appears that positive emotionality contemporaneously influences the association between cognitive impairment and life satisfaction among centenarians. Implications relative to improving life satisfaction among centenarians are discussed.