Background <p>Exclusion from social relations (ESR) describes severe states of social isolation in older age that may be associated with poorer cognitive outcomes. Previous studies on cognitive aging provide mixed evidence for the effects of social isolation and loneliness in shaping cognitive outcomes among older adults. In addition, the joint consideration of social isolation and loneliness remains rarely used in the empirical examination of cognitive aging, whereas an exclusionary perspective is missing.</p> Methods <p>Using a sample (<i>N</i> = 7,830) from the Survey of Health, Ageing, and Retirement in Europe (SHARE), this study examined the cross-sectional and longitudinal effects of three ESR states in older age (<i>ESR and lonely</i>, <i>ESR but not lonely</i>, <i>not ESR but lonely</i>) on episodic memory. Living alone or without a partner, being active in the labor market, and social participation were also included as exclusionary states in linear mixed models with health, demographics, and socioeconomic factors as covariates.</p> Results <p>Cross-sectionally, ESR states in older age are associated with worse episodic memory independent of loneliness. There was no evidence for longitudinal effects between ESR states at baseline and episodic memory slopes over time.</p> Conclusions <p>It was concluded that the negative effects of loneliness-typified ESR states on cognitive aging may be temporary and reversible, as a function of older adults’ transition in-and-out of these exclusionary states.</p>