The study of 600,000 drinkers estimated that having 10 to 15 alcoholic drinks every week could shorten a person's life by between one and two years.
And they warned that people who drink more than 18 drinks a week could lose four to five years of their lives.
The 2016 UK guidelines recommend no more than 14 units a week, which is six pints of beer or seven glasses of wine.
Authors of the Lancet study said their findings backed up the new guidelines and also said they did not find an increased risk of death for light drinkers.
They found people who drank the equivalent of about five to 10 drinks a week could shorten their lives by up to six months.
The study's authors also found drinking increased the risk of cardiovascular illness, with every 12.5 units of alcohol people drank above the guidelines raising the risk of:
Drinking alcohol was linked with a reduced risk of non-fatal heart disease, but scientists said this benefit was wiped out by a higher risk of other forms of the illness.
Previous studies have suggested that drinking red wine can be good for our hearts, although some scientists have suggested these benefits may be overhyped.
Another Danish study found drinking three to four times a week was linked to a lower risk of type 2 diabetes.
"This study makes clear that on balance there are no health benefits from drinking alcohol, which is usually the case when things sound too good to be true," said Tim Chico, professor of cardiovascular medicine at the University of Sheffield, who was not involved in the research.
"Although non-fatal heart attacks are less likely in people who drink, this benefit is swamped by the increased risk of other forms of heart disease including fatal heart attacks and stroke."
Source: The Star