This study aimed to estimate the incidence of self-reported hearing loss among the elderly in the city of São Paulo, Brazil, and identify associated risk factors. A longitudinal study based on a representative sample of individuals aged 60 years and over interviewed in 2000 was conducted in 2006. The sample was obtained in two stages using the cluster sampling method, adopting the criterion distribution proportional to size, and replacement with probability proportional to population for subjects aged 75 years and over. Statistical analysis was performed using the likelihood ratio test to compare survival curves based on the Cox regression model. A total of 765 individuals were interviewed. The hearing loss incidence rate was 28.9/1,000 persons/year and proportional incidence was 17.4%. Associated risk factors were being aged 80 years and over, being male, having an occupation related to agricultural, industrial or maintenance sectors and having osteoporosis. Steps must be taken to reduce incidence by ameliorating the risks identified, particularly those related to occupational noise and specific diseases, notably osteoporosis.