The study analyzed 16,095 Australian participants aged 70 years and older without prior dementia or cardiovascular disease. Results showed that 88.3% of participants had multimorbidity at baseline. During a median follow-up of 10.85 years, 4,217 deaths occurred. Using latent class analysis, five clusters of chronic conditions were identified: hypertension and dyslipidemia (52.1%), gout and metabolic diseases (14.4%), depressive symptoms, osteoporosis and frailty (10.0%), anemia and kidney disease (10.2%), and hypotension, thyroid disorder and past cancer (13.3%). The cluster with frailty, depressive symptoms and osteoporosis was associated with higher mortality in both sexes. The findings indicate that distinct multimorbidity clusters differ by sex and are associated with increased all-cause mortality.