Purpose: Objectives of this study were to identify factors influencing depression in patients with chronic renal failure according to patient characteristics and to provide basic data to develop nursing interventions for depression in these patients. Methods: This descriptive correlative study was conducted using structured questionnaires with 114 patients diagnosed with chronic renal failure. Data were analyzed using t-tests, ANOVA, Pearson`s correlation and multiple regression analysis with SPSS/WIN 18.0. Results: 1) Level of depression was different according to the history of smoking (p<0.001), past health history (p=.001), only drugs as therapy, peritoneal dialysis, hemodialysis (p=.028), and perceived health status (p<.001); 2) Significant correlations were found between depression, stress, value of life and social support; 3) multiple regression analysis showed that stress (β=.24, t=3.41, p=.001), value of life (β=-.46, t-6.37, p<.001) and social support (β=-.19, t=-2.79, p=.006) in that order contributed to depression and explained 56.4% of variance in depression. Conclusion: Findings from this study indicate that health professionals should provide proper management for depression for patients with chronic renal failure, as well as factors influencing depression, including stress, value of life and social support. There is also a need to implement stress management and self-help group programs for these patients.