The Satisfaction with Life Scale (SWLS) has been validated in numerous countries. However, there are still few studies that evaluate its cross-cultural measurement invariance. The measurement invariance of the SWLS across older adults from Chile and Ecuador was evaluated in this study using multi-group confirmatory factor analysis. Participants consisted of 756 older adults from Chile (mean age = 71.38, SD = 6.48, range = 60–92) and 817 older adults from Ecuador (mean age = 73.70, SD = 7.45, range = 60–101). Results show partial measurement invariance with invariance of all but one factor loading (item 3), invariance of all but two thresholds (items 4 and 5) and invariance of all but two uniqueness (items 4 and 5) for the SWLS across Chilean and Ecuadorian older adults samples. Therefore, the SWLS would not be a valid instrument for cross-cultural comparisons of the levels of life satisfaction across older adults from Chile and Ecuador. These results emphasize the importance of establishing measurement invariance of the scale before comparing the SWLS scores across different cultures or countries.