This paper analyzes the impact of a reminiscence program on the psychological well-being and ego integrity of elderly people with depressive symptomatology. Ninety people aged 65 and over participated in a quasi-experimental design with pretest and posttest evaluations. They were assigned to one of three groups: (a) experimental group (reminiscence sessions); (b) control group or (c) control-placebo group (weekly relaxation sessions). The results indicate that only the experimental group had significant increases in its overall psychological well-being and ego integrity. This suggests that the promotion of instrumental and integrative reminiscences is an important therapeutic tool for psychological well-being in elderly people with depressive symptomatology.