Purpose: This study was performed in order to identify the relationships among self-care behavior, health conservation, and cardiovascular risk factors and to examine the influence of self-care behavior and health conservationon cardiovascular risk factors among Korean elders with diabetes mellitus. Methods: The participants were 105 elders with diabetes mellitus using senior welfare centers and elderly leisure houses in Daegu. Data were collected through interviews during the period from April to May in 2014. Self-care behavior was measured with Kim``s (1997) Self-care Behavior Scale, health conservation with Sung``s (2005) Health Conservation Scale, and cardiovascular risk factors with the Arizona Heart Institute Cardiovascular Risk Factor Questionnaire. Collected data were analyzed through one-way ANOVA, independent t-test, Pearson``s correlation, and stepwise multiple regression using the SPSS/WIN 19.0 program. Results: A negative correlation was found between self-care behavior and cardiovascular risk factors, and between health conservation and cardiovascular risk factors. Self-care behavior explained 6% andhealth conservation did 49% of variance in elderly diabetes mellitus patients`` cardiovascular risk. Conclusion: The results indicate that, in order to reduce cardiovascular risk factors among Korean elders with diabetes mellitus, we need nursing interventions for increasing health conservation and self-care behavior.