Although technical advances in dialysis treatment have improved survival, patients with kidney failure still have markedly impaired health-related quality of life (HRQOL) compared with the general population. HRQOL is an important predictor of clinical outcomes including death and hospitalization for patients on dialysis. HRQOL encompasses the physical, psychological, and social domains of health and can be interpreted in diverse ways according to the subjective perception of each patient, and a variety of factors can influence HRQOL. In general, HRQOL differs according to the type of kidney replacement therapy. There are many studies on HRQOL and its implications among hemodialysis (HD) and transplanted patients, but fewer studies focusing on peritoneal dialysis (PD) patients. A few prospective studies have compared the HRQOL over time between incident patients starting HD and PD and have showed similar HRQOL between patients on HD and PD or better HRQOL in patients on PD. Both patients on HD and PD experienced significant decreases in different HRQOL domains over time. The variables associated with the HRQOL of PD patients include age, comorbidities, anemia, nutrition, lower residual kidney function, PD modality, dialysis vintage, social factors, health literacy, depression and anxiety. It is important to understand factors influencing HRQOL in patients undergoing PD and implement proper strategies to improve HRQOL. Assessment of HRQOL and management of factors influencing HRQOL should be an essential part of the clinical follow‐up of PD patients.