[Purpose] The purpose of this study was to determine the relationships among hearing loss, cognition, and balance ability in elderly individuals. [Subjects and Methods] In total, 46 elderly individuals over 65 years of age who were attending senior welfare centers participated in this study. Through a hearing test, the speech frequency pure tone average in the better ear was checked. We set a criterion of hearing loss if the better ear hearing level (BEHL) value was 25 dB or more. Cognition ability was evaluated using the Korean mini-mental state examination (K-MMSE). Dynamic balance ability was evaluated by the timed up and go (TUG) test, and static balance ability was tested using a one-leg stance test (OLST). [Results] The ages of the subjects were all related to BEHL, TUG, K-MMSE, and OLST. BEHL had a negative correlation with OLST, whereas it had no correlation with K-MMSE or TUG. The hearing loss group had a significantly shorter OLST time than the normal hearing group. [Conclusion] As elderly individuals get older, their hearing and cognition, as well as their balance abilities deteriorate. The results of this study indicate there is a significant correlation between hearing loss and static balance.