Aim: This study aims to determine the prevalence of depression and identify associated risk factors in elderly populations residing in long-term care facilities. Materials and Methods: This prospective, observational study included 80 elderly residents aged 65 and older from various long-term care facilities. Data on demographics, medical history, and depression were collected through medical records and structured interviews. Depression was assessed using the Geriatric Depression Scale (GDS), and risk factors such as social isolation, cognitive impairment, and malnutrition were evaluated. Logistic regression analysis was used to identify independent predictors of depression. Results: The prevalence of depression was 57.50%, with 27.50% of participants having mild depression, 20.00% moderate, and 10.00% severe. Hypertension (60.00%) and diabetes (40.00%) were the most common chronic conditions. Social isolation, cognitive impairment (OR = 2.80, p = 0.02), and malnutrition (30.00%) were significant risk factors for depression. Logistic regression showed social isolation (OR = 2.20, p = 0.03) as a significant predictor. Conclusion: This study highlights a high prevalence of depression among elderly residents in long-term care facilities. Social isolation, cognitive impairment, and malnutrition are key risk factors. Regular mental health screening and interventions are essential for improving their well-being.