Service-Learning (SL) is an innovative methodology in community psychology education, focused on the territorial and elderly population needs, which is the central theme of this study. Conducted at a Chilean university, the research evaluates the SL experience in the interaction between psychology students and elderly communities. Through action research, interviews, focus groups, and surveys, the impact of SL is analyzed across three dimensions: formative, learning, and service. The formative dimension highlights a generalist perspective in psychology; the learning dimension emphasizes the development of interpersonal and theoretical-methodological competencies; and the service dimension underscores the strengthening of professional commitment. It is concluded that SL crucial for linking academic training with community needs, benefiting both students and the elderly population by promoting practical skills and greater social sensitivity in future professionals.