Research on human–animal interaction suggests that pet ownership may be linked positively to cognitive functioning in later life, but findings remain mixed and often overlook potential gender differences. This study used multilevel modelling and eight waves of the Survey of Health, Ageing and Retirement in Europe (SHARE) to examine: (1) whether pet ownership is associated with slower cognitive decline among adults aged 50 and older, and (2) whether this association differs between women and men. Cognitive functioning was assessed through verbal fluency, immediate word recall, and delayed word recall. Results showed that pet owners experienced a slower decline in verbal fluency and immediate recall compared with non-owners, whereas no meaningful differences emerged for delayed recall. Gender did not moderate the association between pet ownership and cognitive performance over time. Overall, the findings suggest that pet ownership is linked to more healthy cognitive ageing patterns in specific domains, and that these associations appear similar across genders.