Epidemiological studies show that moderate alcohol consumption, particularly wine, is associated to a decreased risk of ischemic heart disease death. A series of in vitro observations also support this association. Low density lipoproteins (LDL) oxidation apparently plays a key pathogenic role. Wine contains compounds with antioxidant capacity that could account for its postulated stabilizing effect on LDL. Furthermore, in human volunteers wine increases plasma total antioxidant capacity. Other additional effects also contribute to decrease the risk of ischemic heart disease: increased HDL cholesterol, and decreased blood coagulation. In another series of observations, moderate alcohol consumption has been associated with decreased physical and mental deterioration in elderly people. However, it is still under analysis if exaggerated alcohol consumption does increase the incidence of some cancers. On the whole, the presently available evidences clearly indicate that the positive effects associated to moderate wine or alcohol consumption, predominate over the negative effects. In fact, it seems reasonable to reassure moderate alcohol consumers that their cardiovascular death risk is lower; yet there are not enough studies to recommend moderate drinking to non-drinkers.