Aim The present study aimed at analyzing whether activity status is associated with self‐perceived health status and quality of life (QoL) in community‐dwelling older adults. Methods We used a cross‐sectional design based on a semi‐structured QoL questionnaire in a representative sample of 1106 community‐dwelling adults aged 60 years and older in Spain. Logistic regression models were used to explain the association of activity status with self‐perceived health status and QoL, assessed by means of the EQ‐5D‐3L index, controlling for the influence of sociodemographic, social and support network variables, and health indicators. Results The mean age ± standard deviation was 72.1 ± 7.8 years. For the activity status, 8.5% were working people, 53.7% retirees, 30.6% homemakers and 7.2% pensioners. All homemakers and 93.6% pensioners were women. In the model to assess perceived health status, when controlling for sociodemographic, social and support network variables, we found that working people rated their health better than the retired group. In this model, pensioners rated their health status worst, whereas homemakers did not show any significant difference compared with the retired group. However, there were no differences in the model of QoL by activity status. Conclusion Activity status was associated with self‐perceived health status, but not with QoL. This study draws attention to the need of considering the activity of older adults for actions aimed at maintaining and improving their health. Geriatr Gerontol Int 2014; 14: 464–473.