We examined recollective experience in odor memory as a function of age, intention to learn, and familiarity. Young and older adults studied a set of familiar and unfamiliar odors with incidental or intentional encoding instructions. At recognition, participants indicated whether their response was based on explicit recollection (remembering), a feeling of familiarity (knowing), or guessing. The results indicated no age-related differences in the distribution of experiential responses for unfamiliar odors. By contrast, for familiar odors the young demonstrated more explicit recollection than the older adults, who produced more “know” and “guess” responses. Intention to learn was unrelated to recollective experience. In addition, the observed age differences in “remember” responses for familiar odors were eliminated when odor naming was statistically controlled. This suggests that age-related deficits in activating specific odor knowledge (i.e., odor names) play an important role for age differences in recollective experience of olfactory information.