Games like Elixir of Life
Games like Elixir of Life include Stardew Valley, My Time at Portia, Fields of Mistria, Coral Island, and My Time at Sandrock. We matched them by the tags players give Elixir of Life on Steam (RPG, Farming, Crafting, Farming Sim, and JRPG): closest matches first, and among equally close ones the better-known games.

Stardew Valley
Shared: Farming Sim · RPG · Life Sim

My Time at Portia
Shared: RPG · Farming Sim · Crafting

Fields of Mistria
Shared: RPG · Farming Sim · Farming

Coral Island
Shared: Farming Sim · RPG · Life Sim

My Time at Sandrock
Shared: Farming Sim · Crafting · RPG

Dinkum
Shared: Farming Sim · Farming · Crafting

Clanfolk
Shared: RPG · Farming Sim · Crafting

Sun Haven
Shared: Farming Sim · RPG · Life Sim

Kynseed
Shared: Farming Sim · RPG · Crafting

Littlewood
Shared: RPG · Life Sim · Crafting

Starsand Island
Shared: RPG · Farming Sim · Life Sim

Graveyard Keeper
Shared: RPG · Crafting · Simulation

Potion Craft: Alchemist Simulator
Shared: Crafting · RPG · Simulation

Kenshi
Shared: RPG · Crafting · Sandbox

Travellers Rest
Shared: RPG · Farming Sim · Life Sim

The Scroll of Taiwu : Beyond The Dome
Shared: RPG · Sandbox · Open World

No Place Like Home
Shared: RPG · Crafting · Farming Sim

I Am Future: Cozy Apocalypse Survival
Shared: RPG · Farming Sim · Crafting

Rust
Shared: Crafting · RPG · Sandbox

Elin
Shared: RPG · JRPG · Dungeon Crawler

Farmer's Dynasty - Final Harvest Edition
Shared: RPG · Farming Sim · Life Sim

Immortal Life
Shared: RPG · Farming Sim · Crafting

Don't Starve Together
Shared: Crafting · RPG · Sandbox

Luma Island
Shared: Farming Sim · Crafting · RPG