To examine the relationship between components of social networks and health-related quality of life (HRQL) in older adults with and without depressive symptoms. Comparative cross-sectional study with data from the cohort study 'Integral Study of Depression', carried out in Mexico City during 2004. The sample was selected through a multi-stage probability design. HRQL was measured with the SF-36. Geriatric Depression Scale (GDS) and the Short Anxiety Screening Test (SAST) determined depressive symptoms and anxiety. T-test and multiple linear regressions were conducted. Older adults with depressive symptoms had the lowest scores in all HRQL scales. A larger network of close relatives and friends was associated with better HRQL on several scales. Living alone did not significantly affect HRQL level, in either the study or comparison group. A positive association between some components of social networks and good HRQL exists even in older adults with depressive symptoms.