VT is one of the best known psychosocial treatment for elderly affected by dementia. Notwithstanding its wide use, its efficacy is still a controversial issue, especially in comparison with other approaches. This study of 30 elderly subjects in a nursing home compared the effects of VT, sensorial reminiscence (SR) and no treatment on cognitive, functional, and affective status of the participants. The results indicated an improvement in the global functioning of the two treatment groups, compared to the control group, but the differences did not reach statistical significance. Significant within-group effects could be observed, where the SR treatment was the most effective in improving cognitive, affective, and behavioral status; the VT-group showed a reduction of the behavioral disturbances; the participants at the control group demonstrated a slight deterioration at all the three levels. Considerations are made about the implication of VT for the caregivers, as possible mediator of its effect on elderly.