Introduction: Population aging is one of the main current public health challenges, leading entities such as the World Health Organization to promote strategies that favor healthy and active aging. In this context, the regular practice of physical activity plays a fundamental role in the functional capacity of the elderly, which encompasses objective and subjective dimensions. Although interconnected, the evidence points to the existence of discrepancies between the two, and the literature is still limited regarding their relationship with physically active elderly people in the community and their association factors. Objective: To analyze the relationship between objective functional capacity, assessed by the Senior Fitness Test (SFT), and subjective functional capacity, assessed by theShort Form Health Survey (SF-36) in a population of physically active community-dwelling older adults. Additionally, it aims to identify and analyze sociodemographic, psychosocial, and functional factors associated with discrepancies between both dimensions. Methodology: Analytical cross-sectionalobservational study was conducted using field-based tests (Senior Fitness Test (SFT)) and questionnaires (sociodemographic and psychosocial questionnaire/ Short Form Health Survey (SF-36)). The sample includes 56 community-dwelling older adults from the ASA project in the parish of Sobrado. Subsequently, the collected data were analysed using SPSS. Results: There was a statistically significant weak relationship in the positive sense (p=0.044; rs=0.270) between theobjective and subjective assessment measures, suggesting that they measure different constructs of functional capacity. In the bivariate analysis, thediscrepancy only obtained statistically significant results when paired with pain on most days (p<0.001), fear of falling in ADLs (p=0.002) and help in ADLs(p=0.002). Conclusion: It is concluded that there is a weak relationship between objective and subjective measures, with pain on most days, fear offalling on ADLs and help on ADLs as factors associated with the discrepancy between them.