Objective: To explore the relationship between intergenerational care and life satisfaction of older adults, and to analyze the chain mediating effect of children’s emotional support and depression in this relationship, so as to provide scientific reference for improving the quality of life of older adults. Methods: In total, 2970 older adults ≥60 years old from the China Health and Retirement Longitudinal Study (CHARLS) were selected as the study subjects. The process plug-in of SPSS was used, and the chain mediating effect test was carried out following the Bootstrap method. Results: Intergenerational care was positively correlated with children’s emotional support and life satisfaction (r = 0.123, 0.141, p < 0.001) and negatively correlated with depression (r = −0.096, p < 0.001). The mediating effects of children’s emotional support and depression were significant between intergenerational care and life satisfaction, with a mediating effect of 0.023 (95% CI: 0.015– 0.033), 0.028 (95% CI: 0.014–0.043), and the chained mediating effect of children’s emotional support-depression was also significant, with a mediating effect of 0.006 (95% CI: 0.004–0.008). The total indirect effect of children’s emotional support and depression between intergenerational care and life satisfaction was 0.057, accounting for 26.03% of the total effect. Conclusions: Intergenerational care not only directly affects life satisfaction of older adults, but also indirectly affects life satisfaction through the independent mediating effect of children’s emotional support and depression, as well as the chain mediating effect of children’s emotional support-depression. It is essential to create a positive and inclusive social environment for the intergenerational care of older adults.
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