This study examined the temporal within-person associations between self-perceptions of aging and depressive symptoms. Data were from five waves of the German Aging Survey (DEAS) collected between 2008 and 2021 (N = 15,086, mean age at baseline ≈60 years). The study employed a multidimensional measure of self-perceptions of aging that taps into two negative domains of perceptions of physical loss and social loss, and two positive domains of perceptions of personal growth and gains. A random intercept cross-lagged panel model was used for data analysis. Results showed that there were reciprocal within-person associations between physical loss and personal growth and depressive symptoms. There was also a significant within-person effect from depressive symptoms to social loss. The other within-person effects were either not significant or trivial. Overall, these findings suggest that some negative perceptions of aging (or lack of positive perceptions) are a risk factor for depressive symptoms. The findings also indicate that depressive symptoms are a prospective predictor of less favorable views of aging.