The importance of outdoor mobility, notably walking, for older adults' quality of life (QoL) is well recognized, but unmet walking needs have been understudied, especially in the context of urban planning. Our study provides a thorough analysis of the effects of both actual and unmet walking on various dimensions of QoL among Chinese older adults, including physical (PhyH), psychological (PsyH), and social health (SH). We present new theoretical frameworks that considers the mediating effects of PhyH, PsyH, and SH, which adds to the existing knowledge of how mobility influences the wellbeing of the aging population. Our model, validated with data from 533 older adults in China, reveals that unmet walking needs negatively affect all dimensions of QoL, including overall QoL, PhyH, PsyH, and SH. In contrast, the actual walking frequencies are related only to PhyH and PsyH. Additionally, we find that PhyH, PsyH, and SH have distinct impacts on overall QoL, with PhyH and SH mediating the relationship between unmet walking frequencies and overall QoL. These findings are crucial for urban planners seeking to develop more inclusive and age-friendly urban environments that cater to the multifaceted needs of older adults, thereby fostering a more holistic approach to enhancing their QoL.