Universities of the Third Age are specialized educational institutions for older people whose importance in improving the quality of life and development of the individual, but also society in general, modern society due to increased trend of aging population and the extension of life expectancy increasingly recognized. It is a model of lifelong learning designed for elderly people whose activities began in 1973 in France, founding L`universite du troisieme age, at the University of Toulouse, followed by the expansion of the third age universities all over the world. In Croatia, such programs are implemented at the University of the Third Age of Zagreb and the University of the Third Age of Rijeka, which is a subject of our study. This paper focuses on examining the role of the University of the Third Age of Rijeka as a model of lifelong learning designed for the elderly people. In doing so, we focused on the presentation of the profile of students of the University of the Third Age of Rijeka examining their sociodemographic characteristics, as well as the participation reasons, frequency of attendance, the way in which the participants first heard about the program, ways of using the acquired knowledge, the impact of attendance on various aspects of the functioning of participants, satisfaction of students of the University of the Third Age of Rijeka and their further participation plans. Participants of the study were 17 students who attended two programs at the University of the Third Age of Rijeka, and the research was done using questionnaire. The findings indicated that older people are willing to learn, attending the University positively influences on various aspects of their functioning and that they are satisfied with the activity of the University, which is why there should be ensured wider availability and continuous improvement of programs of the University of the Third Age.