Aim Self‐rated health is a reliable and important health measure related to older people's mortality and quality of life. Few studies regarding the self‐rated health of older people living alone have been carried out in Mainland China. The present study aimed to investigate the self‐rated health of older people living alone in Shanghai and its associated factors. Methods A stratified random cluster sample of 521 community‐dwelling older people living alone in Shanghai completed structured questionnaires through face‐to‐face interviews. The data collected included self‐rated health, physical health, depression, functional ability, physical activity, health services satisfaction, loneliness, social support and sociodemographic variables. Results More than two‐fifths of the participants (43.2%) reported good self‐rated health. Multinomial logistic regression analyses found that chronic disease, acute disease, functional ability, satisfaction with health services, depression and age were predictors of self‐rated health. Conclusions Identifying factors associated with the self‐rated health of older people living alone could inform the delivery of appropriate health and social care interventions to promote older people's health. Geriatr Gerontol Int 2014; ●●: ●●–●●.