With the acceleration of population aging, the number of elderly individuals living alone continues to rise, and depression has become a significant issue affecting their physical and mental health. This study focuses on elderly individuals living alone, exploring the mitigating effect of pet companionship on their depression and delving into the underlying psychological mechanisms. Additionally, it offers recommendations on how to promote the pet companionship intervention model. Through analysis, this paper aims to provide references for improving the mental health of elderly individuals living alone.