(1) Background—With the acceleration of the aging process in China, improving the well-being of the elderly has become a key topic of social concern. The elderly people are more inclined to develop tourism activities in the forest environment, which has a positive impact on their well-being. Therefore, it is necessary to explore the factors affecting the well-being of senior tourists. (2) Methods—In this study, restoration experience and positive emotions are used as intermediary variables. Through structural equation modeling and taking Fuzhou National Forest Park as an example, this study explores the mechanism of the impact of the perceived restorative environment of senior tourists on well-being. Bootstrap sampling is used to test whether the mediating effect between restoration experience and positive emotions is significant. (3) Results—The results of standardized parameter estimation of the structural model and the Bootstrap test show that the perceived restorative environment of senior tourists has a significant positive impact on the restoration experience and positive emotions. The standardized path coefficients are 0.406 (p<0. 001) and 0. 234 (p<0.001). This shows that forest tourism has important and positive significance for the construction of psycho-logical resources of senior tourists. The perceived restorative environment of senior tourists has no significant direct impact on well-being (p = 0. 177). The reason for this phenomenon may be that senior tourists have a strong attachment to the park, and have a higher perceived restorative environment. Both restoration experience and positive emotions have a significant positive effect on well-being, and the standardized path coefficients are 0. 593 (p < 0.001) and 0. 253 (p < 0.001). The perceived restorative environment of senior tourists can indirectly affect well-being through the complete mediation of the restoration experience, and the β-value of the mediation effect is 0. 241 (p = 0. 002). In addition, positive emotions also play a completely mediating role in the positive impact of perceived restorative environment on well-being. The β-value of the mediating effect is 0.059 ( p = 0. 014). The study also found that the mediating effect of restoration experience is greater than positive emotions. This may be due to the fact that on the one hand, senior tourists can better control their emotions, thereby maintaining emotional stability; on the other hand, the pursuit of health is the main travel motivation and expectation of senior tourists. (4) Conclusions and Discussions—Based on the above research results, perceived restorative environment has no significant impact on the well-being of senior tourists, but it can indirectly affect well-being through the complete mediation effect of restoration experience and positive emotions. Therefore, in order to improve the well-being of senior tourists, this paper puts forward the following suggestions; First of all, forest parks are expected to improve the quality of tourism environment, to create attractive environment and to improve people's restorative environmental perception. Secondly, forest parks are suggested to provide different types and depth of forest tourism products, to improve the quality of activity experience in order to meet the health recovery needs of senior tourists. Finally, it is needed for forest parks to improve the management and service level, and to strengthen the positive emotions of senior tourists. [ABSTRACT FROM AUTHOR]