Based on data from China Health and Retirement Longitudinal Survey and treating fertility as a unique event in women’s life，this paper explores the impact of fertility behavior-number of children，gender structure，and fertility timing and intervals on elderly women`s health，and estimates the healthy survival time of elderly women by using the accelerated failure time model．Results show that fertility behavior significantly influences elderly women’s health．In a health perspective，more children would reduce happiness．Less number of children，appropriate age at childbearing and longer birth intervals significantly increase healthy survival time．The paper further discusses the mechanisms through which fertility behavior impact elderly women’s health，and points out that public policy should pay more attention to the potential impact of changing fertility behavior on women’s health in the context of implementing a two-child policy．