It is known that the elderly population has weak immune functioning and is a susceptible and high-risk group with respect to the current coronavirus disease 2019 (COVID-19) epidemic. In this study, to understand the influencing factors of COVID-19-related risks and coping behaviors of elderly individuals with respect to COVID-19 and to provide a basis for taking corresponding protective measures, a questionnaire survey was applied to an elderly population. One-way analysis of variance (ANOVA) and linear regression analysis were used to explore the influencing factors of the level of understanding of COVID-19 risks among the elderly population. Additionally, the chi-square test and logistic regression analysis were used to explore the influencing factors of the elderly population’s protective behaviors against COVID-19. This study found: (1) The sex, age, and self-care ability of elderly individuals were significantly correlated with their level of understanding of COVID-19, and that those who were female, were of a younger age, or had better self-care ability had higher levels of understanding; (2) The sex, place of residence, and level of understanding of COVID-19 among the elderly individuals were significantly correlated with their protective behaviors, e.g., those who were women, had high levels of understanding, and lived in cities were more likely to have good behaviors; (3) Elderly individuals’ assessments of COVID-19 information provided by the government were significantly correlated with their protective behaviors-those who had a positive evaluation of relevant information provided by the government were more likely to develop protective behavior. The conclusions of this study show that it is crucial to implement COVID-19 prevention and control measures in the elderly population. Society, communities, and families need to increase their concerns about the health and risk awareness of the elderly individuals.