Actor and partner effects for the 2‐year longitudinal associations between marital adjustment and life satisfaction were evaluated in a population‐based sample of middle‐aged and older adults (N = 1,385 couples). Results showed that (a) higher marital adjustment at baseline predicted higher life satisfaction at follow‐up, (b) higher life satisfaction at baseline predicted higher marital adjustment at follow‐up, (c) marital adjustment more strongly predicted life satisfaction than life satisfaction predicted marital adjustment for women, and (d) higher partner marital adjustment at baseline predicted higher life satisfaction at follow‐up. Results suggest that marital adjustment and life satisfaction influence one another in a bidirectional fashion and that the direction is predominantly from marital adjustment to life satisfaction in women.