Purpose: This study was done to investigate the relationship between Parental stress and Caregiving reward, which is related to the Satisfaction with life Grandparent raising their grandchildren. Methods: Data were collected from 143 grandparents in Seoul between October 20^th 2018 and November 30^th 2018. A structured questionnaire was used to measure the study variables. Data were analyzed using descriptive statistics, t-test, ANOVA, Peasson’s correlation coefficient and Hierarchical regression analysis using SPSS 21.0 software. Results: The multiple regression analysis showed statistically significant result for subjective economic condition, subjective health condition and parental stress that affect satisfaction with life in grandparents raising their grandchildren. Conclusion: This study found that factors affecting the satisfaction with life in grandparent. Therefore, it is necessary to develop a nursing intervention that manage stress of grandparents while considering their health related characteristics in order to improve the satisfaction of life.