The objective of this study is to analyze the factor structure of the BFI-10 considering item valence effects when applied to measure older adults. Likewise, this study aims to estimate the factorial structure, internal consistency of the scale, to assess the nomological validity, and the association of the Big Five traits with age. 75,078 participants with mean age of 68.27 from the 7th Wave of the SHARE study were included. Confirmatory Factor Analyses, omega coefficients and Pearson correlations were estimated. The best-fit model identified a five-factor structure with two valence effects, internal consistency ranged from .26 to .64, the nomological network showed that loneliness is negatively associated to neuroticism and positively with the other four traits, and the opposite direction in the associations with the five traits and satisfaction and quality of life. Consciousness, Extraversion and Openness have been found as dimensions that tend to decrease with age.