Women sexuality is a complex phenomenon encompassing biological, psychological, emotional and social aspects. The menopausal changes have undoubtedly a significant influence on sexuality. There is a widespread opinion that older women show a fading interest and desire for sexual relations. However, despite of all unavoidable changes brought about by menopause and elder age, the sphere of sexuality remains still very important. The paper reviews the changes occurring in the sphere of sexuality in the older age, influence of menopausal hormaonal changes, psycho-social factors and general health state in these changes, as well as of the possibilities of treating sexual dysfunctions in the menopausal period.