This study tested positive psychological processes (viz., optimism, gratitude, flourishing, & positive mood) and self-rated emotional intelligence (EI) as predictors of psychological health, namely, depressive symptoms, in older adults. Results from conducting a hierarchical regression analysis indicated that positive psychological processes accounted for a large amount of unique variance in depressive symptoms, independent of age and sex. Importantly, however, EI was found to add further incremental validity to the prediction of depressive symptoms, beyond positive psychological processes. Thus, EI cannot be reduced down to components of optimism, flourishing, gratitude, and positive mood. Alternatively, EI remains an important predictor of depressive symptoms in older adults. Some implications of the present findings for promoting psychological health in older adults are discussed.