This study was conducted to analyze relationships between depression indices, mini nutritional assessment scores, and nutritional quotients among 80 elderly in Yangpyeong-gun and to identify factors that help prevent depression and malnutrition. Nutrition assessment scores were low in the high-risk group (PHQ-9 score 10), and nutritional quotient scores were lower in the high-risk group than in the normal group (PHQ-9 score 4). Interestingly, the consumption frequencies of fruits, eggs, and nuts were low in the high-risk group, and subjective health awareness, dental condition, and sleep were poorer. The total PHQ-9 score was correlated with malnutrition, body mass index, calf circumference, weight change, independent daily living, reduced meal amount, water intake, and the need for help when eating. Analysis of correlations between items of the PHQ-9 and nutritional status evaluation indices showed that a self-perceived feeling of depression, low energy, difficulty controlling sleep or appetite, negative thoughts (e.g., failure, disappointment), and difficulty concentrating were negatively correlated with total nutritional status scores. These results show that attention is required when food or water intake decreases and that deviation from normal sleep and appetite cycles flags the need to prepare guidelines to prevent depression.