Gist-based processing has been proposed to account for robust false memories in the converging-associates task. The deep-encoding processes known to enhance verbatim memory also strengthen gist memory and increase distortions of long-term memory (LTM). Recent research has demonstrated that compelling false memory illusions are relatively delay-invariant, also occurring under canonical short-term memory (STM) conditions. To investigate the contributions of gist to false memory at short and long delays, processing depth was manipulated as participants encoded lists of four semantically related words and were probed immediately, following a filled 3- to 4-s retention interval, or approximately 20 min later, in a surprise recognition test. In two experiments, the encoding manipulation dissociated STM and LTM on the frequency, but not the phenomenology, of false memory. Deep encoding at STM increases false recognition rates at LTM, but confidence ratings and remember/know judgments are similar across delays and do not differ as a function of processing depth. These results suggest that some shared and some unique processes underlie false memory illusions at short and long delays.