SIT-12 were available for 1915 participants (56.6% women, mean [SD] age 54.5 [14.0] years), with complete data on MRI-derived measures in a subset of 541 individuals. Worse olfactory function was associated with increasing age, male sex and nasal congestion, but not with smoking status. Volumes of the amygdala, hippocampus and insular and medial orbitofrontal cortex were positively associated with OBV. Across all age groups, larger OBV was related to better olfactory function. Larger volumes of amygdala, parahippocampal cortex and hippocampus were also related to better olfactory function but only in older age groups. The age-moderated association between volumes of central olfactory structures and olfactory function was largely mediated through OBV.