An alchemical liquid "of life" believed to be capable of prolonging it
an alchemic preparation believed capable of prolonging life ... 
Noun, 1. elixir - a sweet flavored liquid (usually containing a small amount of... [DOC] [TLE] elixir - WordReference.com Dictionary of English [PAR] an imaginary preparation believed to be capable of prolonging life, or of ... Also 
called elixir of life.