This study aims to examine factors associated with depression among the disabled in later life. Those with disability are more likely to suffer from depression than those without disability. Also, the symptoms of depression grow in as age advances. This leaves a valid ground to ask whether and how those with disability get depressed as they get older. While there have been not a few studies addressing this question, they have generally been limited in their focus only on the characteristics of the elderly with disabilities. The present study, by comparing the disabled in middle age and the disabled in old age, explores strategies to prevent or at least mitigate depression over the later life cycle. It utilizes raw data from Korean Welfare Panel in 2014 containing additional survey on the disabled. Using the disabled aged 40 and over, the study put a great emphasis on the comparison between the middle aged (40-64) and the elderly (65 and over). The preliminary analysis shows that, in comparison with the disabled in middle age, those 65 and over are more likely to be enduring deterioration related to their disability, subsisting on lower income, and needing help for daily activities. In addition, the elderly with disabilities are less educated and more heavily concentrated in the categories of women and the unmarried. The elderly with disability are more likely to experience social discrimination and lower level of social support than their counterparts. According to multiple regression analysis, depression among the disabled in middle age is affected by a larger number of variables, notably, in descending order, martial status, familial support, need of help for daily life, social discrimination due to the disability, and support from friends/neighbors. Among the disabled aged 65 and over, depression is affected by fewer variables: in descending order, need for help in daily life, familial support, age, deterioration of their disability, being never married, and support from friends/neighbors. The study, based on the findings, makes suggestions on how the depression of the disabled in different age groups can be mitigated.