This study explored the meaning of grandparenthood to grandparents, the importance of grandparenthood across the life cycle, and the relationship between grandparenthood and mental health. Using qualitative data gathered from 30 grandparents and quantitative data gathered from 286 grandparents, five dimensions of grandparenthood meaning were derived. These five dimensions structured subsequent evaluations of grandparenthood in terms of the life cycle and in terms of mental health in later life. Findings are discussed in the contexts of research in the field and practical implications.