Objective To determine the effect of hyperlipidemia on cognitive function by comparing cognitive function of elderly with or without hyperlipidemia in Shanghai, in order to provide a basis for early awareness and prevention of cognitive impairment in hyperlipidemia elderly. Methods The eligible candidates were recruited from veteran cadres station in Shanghai, China. The surveys were conducted face-to-face using Mini-Mental State Examination (MMSE) and Montreal Cognitive Assessment (MoCA). The results of cognitive function were compared between the patients with hyperlipidemia (hyperlipidemia group) and the matched normal controls (normal lipidemia group). Results and Conclusion The prevalence of cognitive impairment was significantly higher in hyperlipidemia group than in normal lipidemia group (29% vs 16.11%, P＜0.001). MMSE and MoCA scores were obviously lower in the elderly hyperlipidemia group than in normal lipidemia group (P＜0.001). The results indicated that the spatial orientation ability, and capacity of delayed recall, attention and calculation ability are significantly decreased in hyperlipidemia group (P＜0.05).