Physical self-concept plays a central role in older adults' physical health, mental health and psychological well-being; however, little attention has been paid to the underlying dimensions of physical self-concept in the elderly. The purpose of this study was to develop and validate a new measurement for older adults. First, a qualitative study (Study 1) was conducted that included semistructured interviews and a focus group discussion. The second study established an initial instrument. Through item pool generation, content validation assessment, factor analysis, and item analysis ("n" = 187), the Physical Self-Concept Scale for Older Adults (PSCS-O) was produced containing 18 items and six dimensions. Finally, in the third study ("n" = 233), the PSCS-O showed adequate factorial stability and the initial criterion validity. The PSCS-O were able to explain 49.2% of the variance in older adults' well-being. In addition, Ability to Live Independently, which was introduced as a new factor by the PSCS-O, was the strongest predictor of the older adults' overall subjective well-being. In conclusion, the preliminary results from this study demonstrated that this new instrument, the PSCS-O, has sound psychometric properties. The PSCS-O may be a suitable and useful instrument in the study of physical self-concept in older adults in the future. (Contains 3 tables and 1 figure.)